President Shavkat Mirziyoyev signed a decree on 18 April to restructure the State Committee for Privatisation, Demonopolization and Competition Development into the State Committee for Privatised Enterprises and Competition Development Support.
The document aimed for a shift in the state policy for privatised businesses and better use of state property.
The committee will fully support the production output of privatised enterprises, create new jobs, and coordinate policy makers and financial authorities.
The committee has been given the following priorities:
- to form and update rosters for privatised businesses and state assets;
- to monitor the privatised businesses to identify lossmakers and vacant premises;
- to understand why privatised businesses operate at a loss or why low outputs are so;
- to devise road maps for privatised businesses, so as to create new jobs, increase production capacities, and modernise production;
- to join forces with the Chamber of Commerce and Industry to train entrepreneurs who run investment projects at privatised businesses (business foundations, business laws, governance, financial management, etc);
- to carry out state insolvency policy and to develop financial revival programmes;
- to control state assets, analyse state-owned enterprises, introduce new corporate governance practices, ensure open sale of state assets to private businesses, and monitor investors;
- to carry out antitrust policy, develop competition, protect consumers, licence financial activities, and regulate the advertising market; and
- to train and retrain workers.
The committee, together with the information technology ministry, Karakalpakstan’s Council of Ministers, and regional khokimiyates, have been given the 1 January 2018 deadline to create and update:
- a database of privatised assets;
- territorial rosters of inefficient and vacant privatised businesses; and
- territorial rosters of vacant state property.
The committee, the Chamber of Commerce and Industry, and the education ministry’s centre for specialised secondary education have received orders from the NBU, Karakalpakstan’s Council of Ministers and regional khokimiyats:
- to organise training courses for privatised businesses’ managers from 1 June; and
- to make proposals to the Cabinet of Ministers on business incubators for starting entrepreneurs, within three months.
The decree also transformed the Privatised State Property Fund into the Privatised Enterprises Support Fund, but preserved its sources.
The Fund’s sources have been bolstered with:
- dividends from state shares in economic unions;
- rents from state property leasing across the republic; and
- other sources.
Subscribe to UzReport.uz
in Telegram, to be the first to know about the main news and important events of the day.