Azerbaijan's state-owned enterprises consolidating debts (UPDATE)
Details added (first version published at 14:30)
Baku, Azerbaijan, June 12
By Anvar Mammadov - Trend:
The work to improve accounting reporting has been completed in 18 of the 20 state-owned enterprises in Azerbaijan, Deputy Minister of Economy Sevinj Hasanova said June 12 at a conference titled "Promoting Transparency and Efficiency in Activities of State-Owned Enterprises of Azerbaijan".
The deputy minister noted that the state-owned enterprises were also instructed to consolidate debts.
Hasanova added that a commission headed by the first deputy prime minister was created by a decree of the head of state. The commission, which discusses and controls the activities of large state-owned enterprises, includes representatives of the Ministries of Taxes, Finance and Economy.
The "Promoting Transparency and Efficiency in Activities of State-Owned Enterprises of Azerbaijan" conference, organized by the State Property Issues Committee and the World Bank, started its work in Baku on June 12. The event is attended by representatives of the state committee, the World Bank, ministries of economy and finance, experts and representatives of public organizations.
The aim of the conference is to increase transparency and efficiency in the management of state property and to expand the use of existing optimization methods.
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