By the decree "On measures to improve governance in the field of land reclamation and water management," the country's President has given himself the power of the reorganization and abolition of the Irrigation and Water Management of Azerbaijan JSC.
According to the document, the appointment and dismissal of the Chairman of the company is not the prerogative of the Cabinet, but the President personally.
The government has the authority to approve the charter and structure of the JSC, to determine the size of its share capital and development strategy, to appoint and dismiss deputy chairmen, approve annual reports and balance sheets, income and expenses, and to distribute profits.
The powers of the State Committee on Property Issues have been defined – it has the right to authorize the creation and elimination of departments, offices and branches, and the creation, reorganization and liquidation of its subsidiaries.
Three months have been given to the Cabinet of Ministers to execute the decree. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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