Business | October 11, 2001, Thursday // 00:00

Deputy Prime Minister and Economy Minister Nikolay Vassilev said that the basic points of the Government`s economic program were ready in August and that at the moment the Ministers work on concrete timeframes. The fact that the program has not yet been announced publicly, Vassilev called poor PR judgment. The program will be put forward to a public discussion, he said. `The Economy Ministry is working on a program to revive several hundred decapitalized, enterprises in which the state holds a stake bigger than 50 %,` Economy Minister Nikolay Vassilev told the parliamentary economic policy committee. Vassilev elaborated that the program will envisage future changes in the Commercial Code, the Law on privatization and in the legislation, related to the development of the capital market. The lawmaking agenda of the ministry includes laws on privatization, on tourism and export insurance. The law on the public offering of securities will be amended to facilitate the development of the capital market. A new law on the electronic register of compensation notes and mass privatization securities is also to be amended. ` All tax laws have been drafted,` Vassilev said. Regarding the VAT on tourist services, three options will be offered to the IMF: postponement, zero rate and token rate. `An Energy Ministry will be created,` Vassilev added.

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