OREANDA-NEWS. November 22, 2012. The Government of Belarus has announced a list of high-profit companies, which will have to donate a certain proportion of their profits to the government’s national development fund.

Thirteen high-profit companies will have to invest part of their half-year profits (Jan-Jun ‘12) in the amount of Br255.101 billion (USD 29.8m) to the government’s national development fund in December 2012, according to the government’s resolution #999 of November 1, 2012.

The list includes OJSC Minsk Automobile Plant (Br63.185 billion - USD 4.227 million); OJSC Gomeltransneft Druzhba - Br52.413 billion (USD 6.123 million), state-owned Mogilev Elevator Plant - Br29.413 billion (USD 3.436 million), OJSC Grodno Tobacco Factory “Neman” - Br25 billion (USD 2.921 million).

State-owned company Belspetsvneshtekhnika - Br19.712 billion (USD 2.303 million), OJSC Belarus’ Foreign Currency and Stock Exchange - Br16.628 billion (USD 1.943 million), OJSC AGAT Control Systems - Br16.4 billion (Br1.916 million).

The list also includes OJSC Promagroleasing, OJSC Lidselmash, Belaeronavigatsia, OJSC Starobin Peat Factory, OJSC Belarus’ Universal Mercantile Exchange, state-owned distillery Kristall.

As previously reported, five high-profit companies controlled by Belarus’ Industry Ministry and Belneftekhim Concern were supposed to invest part of their quarterly profits in the amount of Br578bn (USD 70m) to the government’s national development fund, according to a government resolution of July 25, 2012.

Furthermore, in April 2012 the Government of Belarus made up a list of 66 high-profit companies, which were supposed to transfer part of their 2011 revenues to the national development pool. The total value of contributions to the target budget fund was expected at Br138.624 billion (USD 17.306 million at the NBB rate).

The practice of making mandatory contributions to the National Development Fund was introduced in December 2005.

As previously reported, the Government of Belarus made up a list of 65 companies to donate from their 2010 profits a solid Br100.573 billion (USD 32.2 million).