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Azerbaijani Privatization Options to be Withdrawn from Circulation by End of 2007

Business Materials 6 June 2007 16:26 (UTC +04:00)

Azerbaijan, Baku / Trend corr I. Khalilova / Privatization options will be withdrawn from circulation in Azerbaijan, the deputy chairman of the Azerbaijan State Committee on State Property Management, Rustam Shahbazov, reported on 6 June. For this purpose the State Committee increases the number of specialized cheque auctions.

"Intensification of cheque auctions will enable using of privatization options," Shahbazov said. However, he found difficulty in forecasting the possibility of using the privatization options in the enterprises that have already been put forward for privatization.

Over 50% of cheques have been used in privatization at cheque auctions and investment competitions. Some 70 state enterprises are planned to be put for cheque actions in 2007.

In 2006, some 55 auctions were held and the shares of 200 enterprises privatized.

Period of validity of privatization cheques expires on 1 January, 2008.

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