Baku, Azerbaijan / Trend corr. A.Badalova / The State Committee on State Property Management has reported that some 1,200 small State institutions have been privatized in the first quarter of 2007. Shares of 110 shareholders have been sold through auction.
In compliance with the order of the Azerbaijani President, work is being held to privatize a range of institutions and facilities in healthcare, education, sport and culture spheres. Some 100 institutions out of 400 have been privatized.
About 792 real estate properties have been rented in the first quarter of 2007. Work has been held to privatize 50% investments of Capital Bank, belonging to the State. As a result of the monitoring, certain reports of misappropriation and inefficient use of 200 State properties has been revealed.