The activities of enterprises with a state share will be transparent

In accordance with the Resolution of the Cabinet of Ministers No.674 “On measures to improve the system of disclosure of information on business entities with state participation and state unitary enterprises” dated October 30, 2020 (the “Resolution No.ПКМ-674”), the following proposals of the Agency for State Assets Management, the Ministry of Information Technologies and Development of Communications as well as the Ministry of Economic Development and Poverty Reduction were approved:

• • Publication on the websites of State owners (ministries, agencies, departments, etc.) in which the State share in the enterprise is 50% or more, as well as state unitary enterprises, information about:
  • authorized capital (authorized capital);
  • state share;

 

 

• annual or quarterly balance sheets and financial results;
• production indicators;
• the number of jobs;
• composition of management and control bodies (except for information constituting a commercial secret).
• Availability of an official website and posting on it from the beginning of 2021 of economic, financial, statistical information, including quarterly reports on the implementation of business plans, as well as the implementation of programs provided for by the development strategy.

The Resolution No.ПКМ-674 also provides for instruction of the State Assets Management Agency for:

• Implementation of the procedure for the provision of information and documents on enterprises with a state share in the “State Property” system through an electronic digital key;
• Development of the Regulation on the requirement for the official websites of enterprises with a state share, together with the interested ministries and departments;
• Approval of the form of the report on the results of activities of enterprises with a State share.