Komi Republic seeks bankruptcy ban to save its struggling timber industry
At a recent session of the Komi State Council, deputies backed a key initiative—a formal appeal to Russian Prime Minister Mikhail Mishustin calling for a temporary moratorium on bankruptcies for timber industry enterprises.
Stepan Churakov, chair of the Budget, Tax, and Economic Policy Committee and a member of the United Russia faction, explained why this measure is urgently needed now.
"The economic situation in the country and our republic is far from simple at the moment," Churakov said. "We have conducted numerous field visits and meetings with forestry sector entrepreneurs. Business leaders have clearly requested initiatives to help preserve production and jobs."
According to Churakov, introducing the moratorium under Article 9.1 of the Insolvency Law would create a kind of "protective shield" for businesses.
The proposal was swiftly reviewed by lawmakers and gained support from the regional executive branch.
"With the backing of Komi Republic Head Rostislav Ernstovich Goldshtein, our United Russia faction made the decision and approved this appeal at the session," Churakov emphasized. "Our shared goal is to prevent a wave of bankruptcies and maintain social stability in the republic's forestry districts."
The initiative originated from timber industry representatives in Komi, who urged United Russia deputies in the State Council to escalate the issue to the federal level. Their proposals received approval and support from Komi Republic Head Rostislav Goldshtein, and lawmakers promptly addressed the matter.
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