Turkmenistan's fish industry to be privatized
Ashgabat, Turkmenistan, Oct. 15
By Huseyn Hasanov – Trend:
President of Turkmenistan Gurbanguly Berdimuhamedov has signed a decree on the transformation of the State Committee for Fisheries, said a message from the Turkmen government.
The document was signed in order to develop market relations in the country, expand activities in the non-state sector of the economy and provide the domestic market with more fish products.
According to the presidential decree, the State Committee for Fisheries of Turkmenistan will be part of the Ministry of Industry of Turkmenistan.
The Ministry of Finance and Economy of Turkmenistan, as well as the Ministry of Industry are required to carry out targeted privatization of departmental enterprises of the transformed State Fisheries Committee of Turkmenistan. This work should be carried by maintaining jobs and the basic specifics of the work of these enterprises alongside with interdepartmental payments and bank loans.
In accordance with this decree, banks serving the buyers of privatized should provide a loan for 10 years at one percent per annum with a 2-year grace period using the Central Bank’s funds, for the needs of paying for purchased enterprises and future modernization of production. The funds received from privatization will be channeled through the extrabudgetary account of the Ministry of Finance and Economy of Turkmenistan to repay interdepartmental debts and bank loans of the transformed State Committee for Fisheries of Turkmenistan, the rest is planned to be transferred to the state budget of Turkmenistan.
Balkanbalyk is the leading enterprise in Turkmenistan that produces fish in the Caspian Sea and is engaged in the processing of fishery products. Turkmenistan adopted the Fisheries Development Program until 2030. This sphere was one of those underdeveloped before the adoption of this program. The lack of communication between fish farms and processing enterprises, their remoteness from each other prevented the achievement of high production rates.