Cannot find or load Microsoft Installer on skype

It seems that the Skype 7.30.0.103 adds new requirement for Windows 7  (not sure about 8 and 10, but most likely for them too). So, beginning with the the new version of Skype, on some computers trying to runinstaller the following error may occurs:

Unfortunately it does not say what exactly is outdated and which components should be updated. But do not worry, after a couple of tests I was able to find the right solution for this error
Install Skype using MSI-installe Download here:   www.skype.com/go/getskype-msi



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