The State Committee on Property (SCP) has announced this year's first investment competition, which exhibited almost 100% of the shares of Ganja house-building plant. This company cannot find a customer for over 10 years. The SCP calls for 99.96% shares of JSC «Gence Menzil Tikinti» 550,000 manat or $ 343 750. Last time the shares were offered to investors in April 2014. Since then the company’s liabilities decreased from 519.600 to 315.100 manat. The debtors have not repaid, and the debts of the company remained at the same level - 248.900 manat.
The investors have to restore the activity of the enterprise or create any production.
The Ganja DSK was put into operation in 1979, has seven employees. The authorized is about 2.7 million manats.
In January was announced the preparation of the new State Program of Privatization of State Property. The current program was adopted in August 2000. --08D--
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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