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Microcap & Penny Stocks : HGRM--Any Followers?

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To: george eberting who wrote (2583)5/17/1999 3:06:00 PM
From: Jim Burnham  Read Replies (2) of 3576
 
Russia PM Nominee Vows To Tackle Corruption

By Ron Popeski

MOSCOW (Reuters) - President Boris Yeltsin's nominee for prime minister pledged Monday to expose once and for all criminals threatening Russia's economic revival and asked for parliament's help in securing vital Western financial help.

Sergei Stepashin, a Yeltsin ally looking increasingly likely to be approved by parliament this week, said progress on reforms was needed to halt the decline in living standards.

Speaking to parliament's upper house two days after Yeltsin survived an impeachment attempt, Stepashin said his government had to work without undue pressure -- a reference to Yeltsin's dismissal last week of his predecessor Yevgeny Primakov.

Crime in the economy, he said, could be beaten.

''We must step up our fight against crime in Russian business affairs, both in the state and private sectors. The biggest brake on our development is theft,'' Stepashin, who also serves as acting interior minister, told the chamber.

''Crime and corruption reduce to nothing our most noble aspirations.'' Failure to pay taxes, he said, ''is not only a criminal offense but a crime against the country.''

He promised his government would implement all promises given by its predecessor to the International Monetary Fund to secure a new $4.5 billion credit for Russia over 18 months.

That, he said, meant passing laws to boost tax revenue and confirming the new government.

Stepashin, who has a long record in the security forces, is to be considered Wednesday by the State Duma, parliament's lower chamber.

The Federation Council has no say in the matter, but senior officials in both houses see attitudes there as an important indicator. In the event, no one spoke out against him in debate.

Stepashin told reporters he had spoken by telephone to Yeltsin, who would return to Moscow later from his country residence. He said Yeltsin, who underwent what officials said was a routine check-up Saturday, ''has no health problems.''

Yeltsin appears to have emerged stronger from Saturday's Duma session at which all five impeachment counts fell short of the required 300 votes.

With attention focused on the confirmation debate, leaders of the main factions in the Duma have suggested that Stepashin may win approval outright on his first appearance there.

If Yeltsin's candidate is rejected three times, he must dissolve the Duma and call a general election within three months. He could then rule temporarily by decree and appoint whomever he wants as premier.

Federation Council Chairman Yegor Stroyev opened the session by calling for curbs on Yeltsin's powers to guard against unwarranted changes in government which plunged the country into crisis, a reference to Primakov's dismissal,.

''Yes, the president has the right to dismiss prime ministers, but any such change amounts to a major political crisis,'' Stroyev said.

''There is an urgent need to alter the constitutional rules of changing the government. Such decisions should not be taken without the consent of parliament's chambers.''

Stepashin said Primakov had created a base for a strong economy. But ministers had their work cut out before a general election in December and a presidential poll when Yeltsin is due to step down next year.

''The next three months are decisive -- the country will face an election campaign and even before that starts, we have to create
economic order,'' he said.

''I can see that the standard of living is continuing to fall, foreign investors are leaving our markets, many domestic enterprises cannot function...We have to work clearly, effectively and urgently.''
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