III Project of State Privatization Program Ready

The State Property Committee has prepared a draft of the III State Property Privatization Program. The document has been submitted to the Presidential Administration and the Cabinet of Ministers of Azerbaijan, Turan was told in the department.

The preparation of the document has involved four prominent international consulting companies KPMG, PwC, Ernst & Young and Deloitte & Touche.

The main task of the new state program of privatization is to increase economic activity, increase budget revenues from privatization, reduce the burden of state-owned enterprises to the budget and increase the transparency of the process.

The first privatization of SOEs was adopted in 1995 and was completed in 2000. In August of the same year came a new law "On privatization of state property" came into force and a second state privatization program was launched.

To date more than 50 thousand objects of "small" privatization have been privatized, including motor vehicles, as well as about 1,600 joint-stock companies.

The State Property Committee has recently reported on the progress of privatization in the first quarter of 2016, according to which 70 facilities, non-residential premises, unfinished buildings and 125 plots of land under privatized and private enterprises and objects were sold. ----08D