State Committee Puts Twenty-Five Joint-Stock Companies on Privatization

The State Committee for Property Affairs has announced an auction as part of large-scale privatization process, the State Committee said.

According to Turan, put up for auction are 30% of the shares of 25 joint-stock companies, 32 small state enterprises and objects, and 16 vehicles.

The activities of the corporations to be privatized include agriculture, industry, construction, transport and services.

Small state enterprises and objects are mostly located in the Sabunchu, Khazar and Garadagh districts of Baku. At the same time, the privatization of some of the objects will regard Absheron, Sumgait, Mingechevir and Sheki.

It is noteworthy that the list of small state enterprises and objects to be privatized mainly includes a number of shops and a teahouse.

A source in the State Committee noted that the auction for the privatization is carried out by President Ilham Aliyev's decree dated July 19, 2016 "On measures to increase management efficiency and speed up the privatization of state property."

The committee reported that the gradual privatization of state assets will continue.  ------75D