President approves measures to improve management system of cotton industry

According to the resolution, a single organization has been created in Uzbekistan, which will be responsible for development of Uzbekistan’s cotton sector - Uzpahtasanoat.

The enterprise is created on the basis of the unification of Uzpahtasanoat and Uzpahtaexport, as well as the liquidation of Uzpahtasanoatexport.

At the same time, the President handed over Uzpahtayog from the cotton industry to the fat and oil industry.

The head of Uzbekistan handed over the property of the reorganized companies to Uzpahtasanoat, including their state shares, rights and obligations.

In accordance with the resolution, the number of enterprises included in the Uzpahtasanoat structure have been optimized.

The President approved measures to introduce an effective system of accounting and control over the acceptance, transportation, processing of cotton raw materials and the sale of finished products, which should exclude the additions and other distortions of factual data.

Control over the reliability of accounting and reporting at cotton ginning enterprises transferred to the Main Department of State Financial Control of the Ministry of Finance of Uzbekistan, which should strengthen financial discipline in the cotton industry.