Bashkiria to Improve Procedure for Selling State Property

Deputies of the State Assembly of Bashkiria are planning to amend the law "On the Privatization of State Property in the Republic of Bashkortostan." Details are reported in the republican parliament's Telegram channel.

According to the Chairman of the State Assembly of the Republic of Bashkortostan, Konstantin Tolkachev, the bill establishes a new method of privatization - sale at the minimum permissible price. It will be possible to sell state property this way if its sale through a public offer did not occur. Today, a different scheme is in effect: if the auction did not happen, the property must be put up for sale without announcing the price. This opens up opportunities for abuse: bidders can indicate any amount in the envelope, and by law, the property must be sold at the cost of the highest offer, even if it is symbolic. The proposed changes establish a threshold below which it will not be possible to lower the property price.

According to the bill, when selling at the minimum permissible price, the price of state property is set at 5% of the initial offer price, indicated in the information message about the sale through a public offer. If the initial offer price exceeds 20 million rubles, the minimum permissible price of state property will be set at 10% of this amount.