Russian Lawmaker Says Recalling Draft Law On Major IT Firms To Add Amendments
Daniyal Sohail Published November 18, 2019 | 06:33 PM
Russian lawmaker Anton Gorelkin told Sputnik on Monday he had withdrawn his draft law on foreign shareholders of major IT companies to add amendments
"I have decided to use the recall mechanism to rework it as it will undergo significant changes," Gorelkin, a member of the ruling United Russia party, said.
According to the lawmaker, his decision is not linked to the changes in the corporate governance structure of Russia's top technology company Yandex, announced earlier in the day. Under a proposed change that has yet to be approved by Yandex shareholders, a Public Interest Foundation (PIF) will be set up. PIF will receive a "golden share" and have a say in certain major deals of the company.
"This project is not about any one company. Today's decision by Yandex is a pleasant surprise. I think Yandex' actions and my draft law are both steps in the same direction but they are not connected," the lawmaker said.
Meanwhile, Yandex told Sputnik it supported Gorelkin's decision to recall the draft law.
"We support the idea to withdraw the draft law and believe that its aims can be achieved via methods that are less painful for the internet industry," the company said.
The law, which was introduced in the lower house of the Russian parliament in July, suggested that foreign investors could hold no more than 20 percent in companies that are vital to Russia's information infrastructure.
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
Wafaqi Mohtasib inspection team visits Excise and taxation office
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil ..
Pak-US officials engage to enhance trade, investment ties
More Stories From Technology
-
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
3 days ago -
Pro Tips: How to Capture Stunning Portraits with the Aura Light Portrait of vivo V30 5G
4 days ago -
Itel celebrates launch of S24—a new brand identity
5 days ago -
Realme C53 Price Slash: High-Tech Meets High Style at New Low Price!
6 days ago -
Take Charge, Live Free: Empower Your Life with Infinix NOTE 40 Series
8 days ago -
PTA Undertakes Consultation with All Pakistan Network Association (APNA) on Proposed Class Value Add ..
8 days ago
-
Vivo V30 5G: The Perfect Blend of Enhanced Photography and Premium Design
9 days ago -
PITB's Regional Plan 9 invites applications for its newly launched incubation centers in Rawalpindi, ..
10 days ago -
Pakistan calls for enhanced information integrity on digital platforms
10 days ago -
Infinix NOTE 40 Series vs. the Competition: Why It Stands Out
11 days ago -
"Unlock Exceptional Value: The New realme Note 50 with Extended Warranty Now Available in Pakistan!� ..
11 days ago -
Google unveils new AI chips, arm-based processor for data centers
17 days ago