Russia's economics minister on Thursday disavowed a controversial July 28 order from the new Central Bank chief, Viktor Gerashchenko, that would have effectively written off the debt of state enterprises. The move by the Yeltsin governing team was an attempt to bring its market-oriented reform policy back on track after a week of fears, sparked by Gerashchenko's telegram, of a return to old-style economics. At a press conference, Economics Minister Andrei Nechayev said that most officials who attended a cabinet meeting Thursday had been opposed to the Central Bank plan, and that the bank's still unofficial 1. 5-trillion-ruble debt-relief plan would be rescinded. He called instead for 500 billion rubles in new credits for Russian industry, which has been staggering under the weight of a backlog in payment and a pile-up of unsold goods. Nechayev also advocated allowing certain firms to go bankrupt ""in extreme cases"", a step the Gerashchenko plan had sought to avoid.