The means, obtained from sales of Bashkir fuel-energy enterprises, will work for the Republic

The Council for distribution of means, obtained from sales of the Republican fuel-energy enterprises, will be established in the Republic. The President of Bashkortostan Rustem Khamitov has stated about it in the course of the meeting with the heads of municipal and city districts on November 24.

At present time the means, obtained from sales of JSC “BASHNEFT”, Ufa refineries and JSC “BASHKIRNEFTEPRODUCT” in 2009 are found in four Republican charitable funds. In the nearest future these four structures will be united into one Charitable Fund “Ural”. The annual interest yield from floatation of the means can make up to 4,5 billion rubles. About 2,5 billion rubles will be directed to development of sport, 1,5 billon – to development of social infrastructure RB. Besides, JSC “BASHNEFT” allocates 1,2 billion rubles for social objects every year. Thereby the overall amount of the off-budget investments to the Republican social sphere will be more than 5 billion rubles per year.

The Fund’s Council, consisting of seven people, will distribute the means of the Charitable Fund “Ural”. Four people will present the President of Bashkortostan and two – the industrial enterprises of the region. The ex-President RB Murtaza Rakhimov will become the chairman of the Fund. Besides, the Board of Trustees, which staff includes the representatives of the President RB, the Government RB and Republican public organizations, will control the distribution of means.