GKVI puts the stock market under threat

Putting on the sale of land privatized corporations threatens the fate of the stock market. Observers note that after the sale by auction of land market value of the shares plummeting.

Tomorrow in Oguz region was held an auction for the sale of the land area of ??13,527 square meters of Oquz Neqliyyat. The starting price is 6,899 manat. Last Saturday, the State Committee on Property (GKVI - the local abbreviation) announced the sale of the land of Kurdemir Temir Tikinti. Twenty-five acres of land of this company were rated in 1,276 manats. This year, almost every month GKVI announces the sale of land under privatized joint-stock companies. The shareholders claim that they are deprived of the right to participate in the privatization of these lands. Put up for auction the land has not only bankrupt stock , but existing facilities. For example it was recently privatized land for JSC Baki Demir Beton-8 controlled company Pasha Construction.

One of the active participants of the securities market in Azerbaijan, Vezir Rajabov told Turan that a formal waiver of joint stock companies from the privatization of the use of their land is the result of the conspiracy to the removal of minorities from becoming their owner. "Officials in GKVI do not allow investors to auctions. I myself have tried to take part in the privatization of two hectares of land for the Celilabad Sherab-1. However, the auction center I was not even given a registration form. And my complaints to management were not heard," said the investor.

Currently GKVI provides several electronic services, not including the receipt of applications to participate in auctions for the privatization of state property. The Committee has no plans to provide such a service in the near future. -08B-