The program was proposed by a group of economists including Stanislav Shatalin, Grigory Yavlinsky[1]: 199 and Yevgeny Yasin.
[1]: 199 The program was further developed by a work group under the direction of Stanislav Shatalin (an economic advisor to Mikhail Gorbachev).
Before beginning work on the project, Shatalin had been assured by Gorbachev that he was serious about radically reforming the Soviet economy.
The report called for creation of a competitive market economy, mass privatization, prices determined by the market, integration with the world economic system, a large transfer of power from the Union government to the Republics, and many other radical reforms.
Ultimately, this shock therapy plan was a contributing factor to the collapse of the USSR.