| The Russian government is dramatically scaling back its program of privatizing state-controlled companies, closing the door on what had been touted as a bold move to reduce the government's role in the economy.
Alexei Ulyukayev, who took over as economy minister on Monday, said the bulk of the sales will be pushed back until at least 2016. He also proposed that the government's National Welfare Fund, a sovereign-wealth fund earmarked to finance future pension payments, be allowed to buy shares from state-owned companies, effectively keeping them under government control...............................................Full Article: Source |