Sarke: newsletter of 23 June 2010

TODAY:

- politics

* NATIONAL SERVICE OF FOOD SAFETY, VETERINARY AND PLANT PROTECTION TO BE REESTABLISHED AS LEGAL PERSON OF PUBLIC LAW

Ministry of Agriculture Bakur Kvezereli declared that National Service of Food Safety, Veterinary and Plant Protection would be reestablished as legal person of public law in near future. He noted that the Service faces new challenges and, therefore, it should carry more functions than it has nowadays.

- economics

* LIQUIDATION OF 350 ENTERPRICES SHOULD BE FINISHED UNTIL THE END OF THIS YEAR

Giorgi Tskhakaia, head of Finance Ministry’s Revenue Service, estimates that liquidation of 350 enterprices will be finished until the end of this year. Years ago, liquidation procedure reqired 3-4 years, while now the term is restricted to period from 20 days to 2 months, he notes.

* LLC GEORGIAN STATE ELECTROSYSTEM: IMPORT 3 TIMES EXCEEDED EXPORT IN 2009

According to LLC Georgian State Electrosystem, electricity import, implemented in 2009, 3 times exceeded export for the reporting period. Namely, export made up 749 million kWh, while import – 255 million kWh.

* IN 2009, GEORGIAN BUDGET GOT $34.3M AS CAPITAL GAINS TAX FROM BTC-RELATED BUSINESS

According to BP oil company, Georgian budget got $34.3 million in 2009 as a capital gains tax from BTC pipeline route related business. The volume is increased by 16% if compared to the figures of 2008.

* PMCG EXPERT: RISK ESTIMATION METHODS SHOULD BE CONSTANTLY REVIEWED

Bondo Bolkvadze, senior consultant of Policy and Management Consulting Group (PMCG), says that risk estimation methods should be subjected to constant reviewing. External conditions are changing constantly, so risks are changing too, he notes.

* CONSTRUCTION OF 27 NEW CLINICS IN THE REGIONS TO BEGIN IN 1 MONTH

Georgian Prime Minister Nika Gilauri declared on the government’s meeting today that construction of 27 new clinics would begin in the regions in 1 month. Currently, works on the hospitals’ design are almost finished, he noted.

- business

* THE GOVERNMENT PLANS TO SELL LLC RAILWAY TELECOM TO NOVASTAR COMMERCE LIMITED NOW

The Georgian government plans to hand over LLC Railway Telecom to Novastar Commerce Limited now. The issue of direct selling of 100% share to this company is included in agenda of today’s governmental meeting.

* LLC GEORGIAN RAILWAY TO PURCHASE RAILS OF 46.6M CHF

LLC Georgian Railway announced international tenders on procurement of different production. Namely, Georgian Railway is going to purchase rails of 46.6 million CHF ($42 million).

* LLC STATE PROVISION TO PURCHASE AUDIT SERVICE

LLC Sakhelmtsipo Uzrunvelkopa (State Provision) announced tender on audit service. Expected cost of the service is 60,000 lari.

* CREDITINFO TO OFFER CREDIT HISTORY TO THE SUBSCRIBERS SINCE THE NEXT YEAR

Aleksandre Gomiashvili, head of JSC CreditInfo (credit bureau), reported to Sarke that the company would offer credit history to its subscribers since February 2011. The matter concerns unification of data about positive and negative loans.

* LLC PHARMAX TO BORROW 1.2M LARI FROM SAKARTVELOS BANKI FOR REHABILITATION OF CELLULAR TECHNOLOGIES AND THERAPY CENTER

Sakartvelos Banki (Bank of Georgia) said the it would issue 5-year loan of 1.2 million lari to LLC Pharmax for rehabilitation of Cellular Technologies and Therapy Center in Tbilisi. To remind, LLC Pharmax became single owner of Cellular Technologies and Therapy Center, located near Lisi Lake in Tbilisi, through the auction, held in March.

* FREE UNIVERSITY PLANS TO INCREASE TUITION FEE BY 7%

Kakha Bendukidze, chairman of representative board of Free University, declares that tuition fee will be increased by 7%. It will happen, if VAT will be imposed on private universities (as draft of new Tax Code suggests).

For further information: Sarke.