Accessibility links

Breaking News

Tatar-Bashkir Report: June 2, 1999

2 June 1999
Deputy Premier Concerned With Defense Industry
Tatarstan's deputy prime minister and minister of economics and industry, Sergei Kagogin, said a Russian Defense Ministry debt to employees of defense industry enterprises in Tatarstan totals some 500 million rubles ($20 million). Kagogin, recently appointed as deputy premier, held a 1 June press conference on the development of the defense industry in the republic. He said the main portion of wage arrears in Tatarstan is owed to defense companies at which 60,000 workers are employed. Kagogin said the worst conditions are at the Kazan Gorbunov Air Industrial Association where salaries are paid nine months late. Kagogin said that if this situation does not normalize it will be impossible to keep this type of industry in Tatarstan. In his opinion, the arms trade could be more profitable for the republic than the sale of oil. Kagogin said Russian arms exporter Rosvoruzheniye's representative in Tatarstan signed two contracts last year on the export of military equipment that was worth $2.5 million.

Gasoline Prices To Rise
Alemas Valeev, director of a network of gas stations, said gasoline prices in Tatarstan will rise as much as six rubles per liter in the near future. Valeev made his comments at a press conference held by an association of oil product companies on 1 June in Kazan. He said prices were raised by companies involved in oil processing and gas production. He added that some fuel reserves were acquired with older, lower prices. Participants at the press conference said no part of Tatarstan is currently experiencing a shortage of gasoline.

Meanwhile, in connection with the hike in gas prices, taxi rates have gone up twice in Kazan since 1 June, Tatar television reported. One kilometer in a taxi costs three rubles.

Former Deputy Premier Voted Chairman Of Bank Council
Tatarstan's former deputy prime minister and minister of economics and industry, Rinat Gubaidullin, was elected as a chairman of Tatfondbank's council of directors at a shareholders' meeting on 31 May, Tatar-inform reported. Gubaidullin, who was dismissed from his government posts last month, served several years ago as head of Tatfondbank. Gubaidullin is also currently the chairman of the council of directors for the oil company Tatneft but is expected to be dismissed from that position at a shareholders' meeting on 25 June.

Gubaidullin said at the Tatfondbank meeting that during next six months 200 million rubles worth of capital will raised, from which 130 million rubles belongs to Tatfondbank itself. Damir Bikbov, the former chairman of the State Property Committee, who was also sacked last month, was named financial director of Tatfondbank.

Compiled by Gulnara Khasanova