Mr. Khasbulatov, a smooth liberal economist from the North Caucasus, has argued against large-scale or rapid privatization and has assailed the Government at every turn.

In 1997 and 1998, large-scale privatization occurred, in which all state enterprises, except a few large monopolies, were liquidated and their assets sold to private investors.

By the 1990s, large-scale privatizations reduced the market share of both the Township and Village Enterprises and state-owned enterprises and increased the private sector's market share.

Few Westerners can appreciate the daunting scale or enormous difficulties of an undertaking that makes Britain's large-scale privatizations in the 1980's seem trivial by comparison.

But the conservatives, backed by wealthy merchants, favor large-scale privatization of state-run industries with small allocations for foreign investment.

After a fast start in 1990, the pace of large-scale privatization in Hungary has slowed.

At a time of large-scale privatization, one should be seeking to strengthen competition policy.

Among the moves that he has taken are large-scale privatization of state companies, cuts in Ukraine's budget deficit and the removal of price controls on many goods.

In an interview published today, he stated his clear opposition to large-scale privatization at this stage in Russia's economic reform.

Part of President Menem's program included large-scale privatization of state-owned companies.