State budget of Kyrgyzstan can receive KGS 1.3 million from the sale of 15 percent of state companies' shares, Director of Kyrgyz Stock Exchange Aibek Tolubaev said at today's round table conference on Dividends Transparency of Nationalized Facilities, 24.kg reported.
According to him, the State will preserve control right after partial sale of State stake. "In accordance with our legislation the State can provide control over the state companies if it owns blocking stake - not less than 67 percent. Thus, government has opportunity to find funds to reduce budget deficit and remain control right over the state companies," said Aibek Tolubaev.
He also said that the sale of state property was prerogative of both Ministry of State Property and Stock Exchange. "Over the last 5 years minor facilities were sold by Stock Exchange. Bigger facilities were sold by Ministry of State Property. The last one reported about transparency of state companies' sale. I can assure you that sale scheme of Stock Exchange is absolutely transparent," added Aibek Tolubaev.