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. Last Updated: 07/27/2016

Mayor Limits Privatization

Continuing his struggle with the federal government over property and privatization policy, Mayor Yury Luzhkov on Tuesday prohibited real estate privatization in Moscow until President Boris Yeltsin endorses a "special" privatization plan for the capital, according to a spokesman.


Igor Zverev said a mayoral decree signed Tuesday forbids the inclusion of nonresidential real estate in the founding capital of new firms. Luzhkov has often criticized cheap transfers of Moscow property to new firms by the federal State Property Committee.


If Yeltsin signs the proposed plan, real estate privatization in Moscow would continue under the sole supervision of the Moscow government, Zverev said.


The plan, which has been on Yeltsin's desk since November, calls for more gradual privatization.