01 June 2004 03:36
Business in Brief: Auctions, Not
Tenders
MOSCOW -- Natural Resources Minister Yury Trutnev told President Vladimir Putin on Monday that the government wants
to abolish the tender system for awarding licenses to develop natural resources, and use simpler lump-sum auctions
instead.
Trutnev said the change would be included in a new law on subsoil resources currently being drafted. The move is
designed to increase transparency in the licensing process and weed out corruption.
The draft law, which will also introduce a more elaborate tax scheme for producers, will be submitted to the Cabinet
in about a month, Trutnev said.
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[The Moscow Times] |
RUSSIA IN FACTS
