JSC Food Harvesting and Supply Created

President Ilham Aliyev has ordered the creation of the Open Joint Stock Company Food Harvesting and Supply. The company is created in order to stimulate the production and processing of agricultural products, development of agricultural producers, to ensure the rational use of public funds to ensure the implementation of centralized procurement of food products under the state order.

The JSC will report to the Ministry of Agriculture.

According to the decree, the Cabinet of Ministers approves the Statute and the structure of JSC and sets the size of its share capital.

The Agriculture Ministry approves annual reports, balance sheets. sets a limit on the number of employees, payroll system and approval of cost estimates JSC.

The President appoints and dismisses the Chairman of the Supervisory Board and Management Board and their deputies.

Within a month the Cabinet will approve the charter and structure and decide the allocation of the necessary funds for the formation of its authorized capital.

After the state registration measures will be taken to offer 49% of shares to other investors on the stock exchange. The proceeds from the sale of shares will be transferred to the state budget.

Today, the amendments to the law "On public procurements" have come into force. Under this law, from now on all purchases of food products for government agencies will be carried out in a centralized manner.

According to the Rules of the centralized food supply for state-owned enterprises and organizations, the Cabinet within a month is to shape information about the needs of these government agencies, the announcement of the procurement conditions, samples of procurement contracts between the parties (the Ministry of Agriculture, the purchasing and supplying agent, the manufacturers and sellers of food products) .

The Ministry of Agriculture within two months will hand over the electronic portal "The need of purchasing organizations for food products."    ----08D