State Property Committee Brought Actions against 700 Lessees in 2006

Business Materials 11 December 2006 20:38 (UTC +04:00)

Over 11 months of 2006, the State Property Committee allocated AZN 2.6 mln. to the State Budget from immovable property leases. That has exceeded the forecast by 10%. During the reporting period, some 1,700 leases was signed, Trend reports referring to a message from the State Committee.

Approximately 70 properties have been leased to owners of privatized enterprises and facilities this year. Approximately 1,500 lessees have received letters of warning from the Committee in their failure to pay their rental debts. Furthermore, in measures to eliminate infringement of the leases, a number of leases have been retracted. In 2006, the State Property Committee has brought legal suits against 700 lessees for not fulfilling their legal commitments.