Uzbekistan plans to sell shares of some large enterprises

Uzbekistan plans to sell shares of some large enterprises

BAKU, Azerbaijan, Feb. 28

By Ilkin Seyfaddini – Trend:

State Asset Management Agency of Uzbekistan has proposed to approve a list of large enterprises in which it is planned to preserve all or part of the state shares (stock), Trend reports citing Uzbek media.

A draft of corresponding presidential decree on additional measures to reduce the state share in the economy has been published for general discussion.

It is planned to sell 85 percent of the state share in Ucell, 49 percent - Uzbekistan Airways, 18.8 percent - Uzbektelekom, 45 percent - Dori Darmon and some other companies, while there no plans to privatize Uzbekistan Airports, Uzavtosanoat, TV channels, Halyk Bank and Agrobank, the report said.

Working groups on the reform of the state enterprises headed by the prime minister, his deputies and presidential advisers have critically reviewed the situation at the state enterprises and developed proposals for significant or partial reduction of its share, the report said.

It is proposed to retain the state share at 555 companies as part of the strategy of ownership, management and reform of enterprises with state participation in 2020-2025.

It is planned to sell 45 percent of the state shares of Andijan Biochemical Plant, 18.8 percent - of Uzbektelekom, 25.4 percent - of Uzbekistan Pochtasi, 85 percent - of Coscom (Ucell), 49 percent - of Uzbekistan Airways, 25 percent - of the Uzbek Republican Commodity and Raw Materials Exchange, 45 percent - of Dori-Darmon, 24 percent - of Uzbekneftegaz, 24 percent - of Uztransgaz, 10 percent each - of Almalyk and Navoi mining and smelting plants, Uzmetkombinat and Tashkent metallurgical plant, 40.8 percent - of Uzexpocentre.

The state shares in Uzbekistan Airports, Toshkhartranskhizmat, TV and radio channel Yoshlar, Agrobank, UMS, Microcreditbank and Halyk Bank, NBU, Uzavtosanoat, Uzdonmahsulot, Uzpakhtasanoat, the editorial offices of the Yangi Uzbekiston and Pravda Vostoka newspapers will be fully or almost fully preserved.

There are no plans to reduce state participation in military trade enterprises, road and telecommunications maintenance infrastructure, construction of water facilities, repair and rehabilitation services, television and radio channels, film companies and some geological enterprises.

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Follow author on Twitter: @seyfaddini

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