GKVI preparing for electronic auctions

The State Property Committee (GKVI - local abbreviation) intends to organize an electronic platform for specialized cash auctions. The first step in this process is done: selected company to develop software.

According to the State Procurement Agency, GKVI has selected LLC MinA to improve the software and making reporting forms for the specialized cash auctions. The contract amount was 9,558 manats.

Turan was unable to get answers to questions about the timing of the introduction of the auction mechanism in practice. The press service and "hotline" GKVI phones are silent.

Specialized cash auctions replaced specialized voucher auctions after the suspension of the circulation period of the vouchers from the 31st December 2010. For three years were held 7 auctions, on which were sold up to 70% of the shares of more than 10 enterprises. The last time such auctions were held in August 2013.

Participants of specialized cash auctions argue that the Auction Center for tendering at GKVI puts illegal restrictions on the provision of funds for the purchase of shares. The auctions last for five days. The money is to be paid in cash.

Currently GKVI uses electronic trading platform for the sale of only passed into state ownership of movable and immovable property.

GKVI spends money auction for the sale of 30% to 45% of the shares of privatized enterprises as well as small businesses and government facilities, vehicles, unfinished buildings and commercial premises. GKVI has no plans for the organization of these trades in civilian form. - 08B -