OREANDA-NEWS. Over the nine months Bellegprom companies invested Br 57 billion in upgrade projects which is 90% of the annual target, chairman of the Bellegprom concern Eduard Naryshkin told a session of the Presidium of the Council of Ministers. The session highlighted ways to stabilize the financial situation in the light industry, reported the Official website www.government.by.

On the whole, a total of Br 100 billion is slated for in modernization projects in the light industry. As a result, 6% of the branch assets will be upgraded. By 2010, about Br 500 billion will be utilized for the purpose and the depreciation of main assets will be halved.

According to Eduard Naryshkin, modernization projects helped improve operation of several companies. Thus, such GDP-forming companies as Baranovichi Cotton Association, Gronitex and KIM became profit making.

Nonetheless, the decline in production at Orsha Linen Mill and Kovry Bresta is the main reason why the concern fails to reach all the production targets of the year. All the other targets of the socio-economic development of Bellegprom concern will be met, Eduard Naryshkin stressed.

First Vice Premier Vladimir Semashko criticized the work of the concern and the Ministry of Agriculture and Foodstuffs. The latter failed to supply Orsha Linen Mill with the sufficient amount of raw materials. It is more beneficial for Belarus to sell ready made linen than raw flax, he stressed.