The law on the Capital Investment Fund was adopted in the first reading

The Supreme Council adopted in the first reading the law-in-draft "On the Fund for Capital Investments in the Pridnestrovian Moldavian Republic". The legislative initiative was developed by a group of parliamentarians who consider it necessary to enshrine at the legislative level the rules for the functioning of the Capital Investment Fund, sources for its replenishment and implementation mechanisms, the rights and obligations of state customers of the objects of the Capital Investment Fund.

The law-in-draft was presented to the deputies and invited by one of the authors, the chairman of the relevant Committee on Economic Policy, Budget and Finance Viktor Guzun.

A completely new law for Pridnestrovie was created taking into account the successful work of the Capital Investment Fund over the past five years. Viktor Guzun recalled that until now the Supreme Council, on the proposal of the Government and taking into account the opinion of local authorities, prescribed work on the Capital Investment Fund within the framework of the law on the republican budget. However it is not regulated by law exactly to date what amount the state can allocate to finance work under the Capital Investment Fund; the volume of the Capital Investment Fund is different every year. The authors of the initiative propose to fix the maximum amount of funding in the amount of up to 2% of GDP. Another important point, according to parliamentarians, is that an object can get into the program of the Capital Investment Fund only if there is a complete package of design and estimate documentation for it.

The authors of the legislative initiative spoke about the need to plan the Capital Investment Fund. This is about the medium term. The government will submit to the Supreme Council a list of objects that are supposed to be included in the work on the Capital Investment Fund in the next three years. The Government agrees with this, where they are sure of the necessity of streamlining the work of the Capital Investment Fund.

The law-in-draft proposes to consolidate the obligations of contractors who will perform work at the facilities of the Capital Investment Fund. They will be required to provide a quality guarantee and provide warranty repairs for a certain period of time. Viktor Guzun noted that this will allow the state to attract an unscrupulous contractor to repair the facility at his expense in case of dishonest performance of their duties.

Parliamentarians voted for the adoption of the legislative initiative in the first reading. New law on the Capital Investment Fund in the Pridnestrovian Moldavian Republic is planned to be adopted in the second final reading before the start of the parliamentary recess.