Home » News » Privatization of Rosspirtprom: Finance Ministry’s Proposal to Boost State Budget – Latest News

Privatization of Rosspirtprom: Finance Ministry’s Proposal to Boost State Budget – Latest News

by Alexandra Hartman Editor-in-Chief

2023-10-11 05:10:00

The head of the Ministry of Finance of the Russian Federation, Anton Siluanov, proposed to the government to privatize the Rosspirtprom company. This is the first designation of the enterprise by the state since 2017.

“Siluanov proposed to the government to privatize 100% of Rosspirtprom JSC this year,” they report.News” The relevant documents were handed over to Russian Prime Minister Mikhail Mishustin.

The company has eight distilleries in different regions of the Russian Federation. The company itself produces ethyl alcohol, transports it, and also destroys illegal products and equipment, according to documents in the newspaper’s possession.

At the same time, in the first quarter of 2023, alcohol sales fell by 15% compared to the same period a year ago. Therefore, in order to maintain the role of Rosspirtprom as the largest manufacturer in the Russian Federation, the enterprise must be transferred to the disposal of the Ministry of Finance.

Earlier, Siluanov said that he considers privatization as one of the ways to replenish the state budget. The head of VTB, Andrei Kostin, also proposed resuming the privatization program in the Russian Federation in order to finance priority projects.

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