President Ilham Aliyev signed on July 19 a decree "On the privatization of accelerating and improving the efficiency of management of state property." In May this year, President actually stopped the privatization process prior to the adoption of a new law on privatization of state property, and retained his own right to open the privatization of enterprises until that time.
The Cabinet of Ministers is instructed to define a list of state-owned enterprises, which will remain in state ownership. The government will carry out its restructuring and will start the privatization of non-core units.
The government is requested to submit to the President proposals for the improvement of enterprises to be privatized and the regulation of their debts, as well as the solution of certain social problems.
The decree provides for the partly preservation of the land of enterprises located in Baku and other cities of the country in state ownership in accordance with their master plans.
The Cabinet will carry out measures for the application of corporate governance principles in the large state-owned companies in order to increase the transparency of their financial activities.
Priority prioritizing privatization of enterprises will be given to those who have the potential ability to compete in the region. However, the list of these enterprises will be limited and preference will be given to those suspending the activity.
The decree mentioned and the State Commission for Control of Privatization, which is inactive since the privatization of state property since 1996. Last time the composition of the commission headed by the Prime Minister was formed on February 28, 2007. The commission never gathered and failed to report.
The commission is instructed to take measures to strengthen the control over privatization, transparency and openness.
The State Committee for Property Affairs has announced the public and foreign investors through the media list for privatization of public enterprises and facilities.
The State Committee for Property Affairs is instructed to accelerate the process of privatization of the enterprises that have been opened for privatization before the adoption of the decree. --08D-
Economics
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