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MPS URGE GOVERNMENT TO INCREASE PRIVATIZATION TRANSPARENCY
(Daily News: February 2, 2005)
Economic Development Minister Aleksi Aleksishvili has reported to Parliament’s Sectoral Economy Committee on the privatization process today. Some MPs complained that the process of privatization lacked transparency and illegal “office deals” were taking place.
PERSONAL RESHUFFLES IN THE FINANCE MINISTRY
(Daily News: February 2, 2005)
Zurab Antelidze, current Deputy Finance Minister, will become new head of the Customs Department, it was reported at a government meeting today. The current chairman, Giorgi Godabrelidze will become Deputy Finance Minister.
GEORGIA RECEIVES $9M AS PART OF GRANTS’ PROGRAM OF BTC CONSTRUCTION PROJECT
(Daily News: February 1, 2005)
Georgia has received $9 million in grants from BTC Co. (the pipeline consortium) under the grants’ program of the Baku-Tbilisi-Ceyhan construction project, it has been reported at a briefing held at the Finance Ministry on January 31.
PM SPEAKS ABOUT PRIVATIZATION OF SHIPPING COMPANY
(Daily News: January 31, 2005)
The announcements on the privatization of the Georgian Shipping Company by British-Australian Consortium ASP, was followed by Australian ASP’s rejection, declaring it had not set up a consortium with British Armstrong Holding. Prime Minister Zurab Zhvania said the confusion raised was groundless and assured journalists this was a mere a mistake.
PRIVATIZATION OF MAIN GAS PIPELINE CLAIMS SERIOUS CONSIDERATION, SAYS PRIME MINISTER
(Daily News: January 31, 2005)
Prime Minister Zurab Zhvania has told journalist today serious discussions are to precede the decision on the possible privatization of the main gas pipeline. He said the question could not be solved at the level of Prime Minister, as the privatization of such entities needed legislative amendments and Parliament’s approval.
Rezonansi: “FOR WITHDRAWAL OF SUSPECTS TRANSPARENCY IN ALIENATION OF THE SHIPPING COMPANY IS ESSENTIAL, DAVID BERDZENISHVILI DECLARES AND DOES NOT INTEND TO DIG IN PAST OF ZHVANIA”
(Economic Press Monitor: January 28, 2005)
David Berdzenishvili, leader of Republicans, summons authorities for more transparency by alienation of Georgian shipping company. He considers his resistance influenced on decision of Prime Minister Zurab Zhvania, who changed mind on selling exactly the shipping company to Danish businessman Nielsen, who is accused of cooperation with Aslan Abashidze, former head of Ajara.
KFW TO DISBURSE 25M EUR TO ADJUST POWER DISTRIBUTION NET IN REGIONS
(Daily News: January 28, 2005)
This month KfW, the German development bank, will disburse 25 million EUR to the United Distribution Energy Company, which provides service for regions (the company is managed by PA Consulting, a USAID contractor), Energy Minister Nika Gilauri has said today. The Minister made the announcement after a meeting held in the State Office with Prime Minister Zurab Zhvania and representatives of the World Bank (WB), KfW and USAID.
PUBLIC REGISTER AGENCY AND BANKING SECTOR FOR EFFECTIVE RELATIONS
(Daily News: January 28, 2005)
Majority of banks have to appeal to public register actually every day, however, they have so far encountered problems like the term of issuing and quality of information, Zurab Gvasalia, head of the Georgian Banks Association, says. In order to coordinate activities in this sphere, the Public Register Agency, which was established in February last year, and the Banks Association prepared a memorandum, which will be concluded on January 31.
ARMSTRONG HOLDING ACQUIRES GEORGIAN SHIPPING COMPANY FOR $161M
(Daily News: January 26, 2005)
Among 7 bidders for LLC Georgian Ocean Shipping Company, the privatization commission has given preference to Armstrong Holding. As was reported yesterday evening this British-Australian company will acquire the shipping company for $161 million.
STATE BODIES TO MOVE FROM TBILISI TO KUTAISI TO BE NAMED IN TWO WEEKS
(Daily News: January 26, 2005)
The decision on moving the Constitutional Court from Tbilisi to Kutaisi has been already made. Prime Minister Zurab Zhvania told a government meeting today that Kutaisi is to become “the capital of constitutional justice”.
GEORGIA REACHES $94.43M DEBT RESTRUCTURING AGREEMENT WITH RUSSIA
(Daily News: January 25, 2005)
According to the press service of the Finance Ministry, Georgia’s $94.43 million debt to Russia has been restructured. Of the debt, $89.36 million is the basic one and $5.07 million is the interest charged.
GEORGIA AND RUSSIA TO SIGN DEBTS RESTRUCTURING AGREEMENT
(Daily News: January 24, 2005)
On January 23 Finance Minister Zurab Nogaideli left for Moscow on a four-day visit in order to sign an agreement with Russia on restructuring debts. The signing ceremony is scheduled for January 25, Sarke was told in the Finance Ministry.
Khvalindeli Dge: “GEORGIA – GAMING “OASIS” IN ECONOMIC DESERT”
(Economic Press Monitor: January 21, 2005)
According to the draft, elaborated by Finance Ministry, license on casino opening will cost 3 million lari in Tbilisi, 0.5 million – in Batumi. Those businessmen, who do not have such funds, can leave for resort city Tskaltubo, where license tax will not be in force.
TBC-BANK’S HEAD OFFICE TO MOVE TO MARJANISHVILI ST. FROM SPRING
(Daily News: January 21, 2005)
By late February TBC-Bank plans to complete repair works of a 4-storey building in one of the capital’s central streets – Marjanishvili 7, which is to become the bank’s head office. The building built in 1913, was in needed of serious repairs, Maia Dzirkvelishvili, the bank’s PR officer, told Sarke.
TAX AND CUSTOMS OFFICIALS SUMMED UP RESULTS OF THE YEAR 2004
(Daily News: January 21, 2005)
David Galegashvili, head of the Tax Department, has introduced a report on the department’s performance last year to Finance Minister Zurab Nogaideli. He said that in 2004 the tax officials had gathered over 1.29 billion lari in the consolidated budget, which is 4.8% over the projected figures and almost 1.5 times more than the 2003 parameters.
FINANCE MINISTRY TO RE-REGISTER TAXPAYERS
(Daily News: January 21, 2005)
Taxpayers will have to undergo re-registration during the year. Finance Minister Zurab Nogaideli has told a press-conference today that the new registration begins from January 24.
GOVERNMENT SEEKS EFFICIENT STATE ADMINISTRATION SYSTEM
(Daily News: January 20, 2005)
State Minister Kakha Bendukidze has introduced to a government meeting today the concept of reforms in the government system. He stressed each government is to have clear-cut purposes and strategy.
FINANCE MINISTRY TO ISSUE T-BILLS WITH THE MATURITY OF UP TWO YEARS THIS YEAR
(Daily News: January 18, 2005)
The Finance Ministry will issue securities of a new type– treasury bonds with 18- or 24-month maturity along with 364-day T-bills it already issues. Finance Minister Zurab Nogaideli has introduced bank officials today with the emission schedule.
24 Saati: “AUTHORITIES TRY TO “PREPARE” PUBLIC FOR GAS PIPELINE SELLING”
(Economic Press Monitor: January 13, 2005)
The present authorities, while being in opposition to the government of the ex-president Shevardnadze, were against delivery of the main pipeline to the united Russian-Georgian enterprise, saying it would be the strike on safety of Georgia. Now the future of the gas pipeline is not defined, however the talks are holding actively on catastrophic condition of the gas pipeline, going from Russia to Armenia though Georgia, and if it is not rehabilitated the energy catastrophe can happen in the country.
20 BANKS IN LIQUIDATION PROCESS
(Daily News: January 14, 2005)
According to recent data, currently 20 banks are undergoing liquidation, Sarke has been told in the National Bank (NB). Zurab Gogatadze, head of the liquidation department, said in 2004 the liquidation process of 7 commercial banks had ended – Ea-Bank, Lombank, Elva, Agora, Rioni, Georgianinvest Bank and Caucasus Bank.
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