Duma concerned about state insurance company

Deputies of the lower house of the Russian parliament have included the draft of the address to the Russian government concerning the privatization of Rosgosstrakh on the agenda of today's session. Deputy Andrian Puzanovsky, the initiator of the address, stressed that the government currently had a controlling stake in this insurance company (51 percent) and on June 16 a tender on selling a 26-percent stake minus one share would take place. The deputy noted that this tender raised many questions. According to Puzanovsky, one legal entity possesses a 49-percent stake in the company and "a simple economic analysis shows that it is more profitable to sell a 51-percent stake; in this case, there will be a real competition for acquiring a blocking stake". What has been proposed is "a present to someone who has these 49 percent", he specified.

In his turn, State Duma Deputy Speaker Vladimir Zhirinovsky suggested that the tender should be canceled. The proposal to include this issue on the agenda of today's session was supported by 232 deputies with 2 against and no abstentions.

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