Four branch offices of State Privatization Committee have commenced their work on promotion of the process of privatization in Baku city. Kerem Gasanov, head of the Committee, told journalists 19 regional offices would commence the work in the closest time. These offices are established based on 67 liquidated offices run up to Privatization Committee splitting up from the Ministry of Economic Development.
Meanwhile, in the first quarter 2006 state enterprises were converted in 6 joint-stock companies, 12 check auctions were arranged with selling shares of some 40 JSC. In general, 1,520 JSC have been established in the course of privatization. Mr Gasanov said all remaining checks would be out of circulation by the deadline, January 1, 2008. 14.3mln checks have been put out of circulation to date, which is 45% of the total quantity.
Land areas with some 80 facilities on them have been privatized in the first quarter 2006. Nearly 1,300 such land areas have been privatized in total to date.
Stat budgets revenue from the current privatization transactions amounted AZN 4.5mln, and from the beginning of privatization AZN 206mln.