Tashkent, Uzbekistan (UzDaily.com) - At the eighteenth plenary meeting, the report of the Committee of the Senate of the Oliy Majlis of the Republic of Uzbekistan on budget and economic reforms on activities in 2020 and the first half of 2021 was heard.

It was noted that the Committee, within the framework of fulfilling the tasks provided for in the Law "On the Senate of the Oliy Majlis of the Republic of Uzbekistan", the Action Strategy, decrees and resolutions, the President’s Messages to the Oliy Majlis and the Regulations on the Committee. In particular, 76 events were held on preliminary consideration of laws, law enforcement practice, implementation of parliamentary control, organization of round tables and international conferences.

The 23 laws received from the Legislative Chamber were preliminary considered and the conclusions of the Committee on the approval of 22 of them and the rejection of 1 law were submitted to the Kengash of the Senate. Reports were heard 4 times and information from heads of ministries, departments and local authorities was heard 24 times. Parliamentary inquiries were sent to the Government on the basis of the proposals of the Committee on elimination of problems.

About 4,700 applications received by the Senate were considered by the Committee, more than 15,000 applications were considered by senators at the local level, and almost 12,000 or 80% of applications were approved.

In the reporting period, for the first time, 10 laws related to the budget and financial relations were considered, 12 control and analytical activities were carried out.

The information of the Minister of Finance on the execution of the State budget (4 times), information of the khokims of the relevant regions on the execution of local budgets (4 times), the ministers of housing and communal services, transport and the first deputy khokim of the Navoi region were heard.

The Committee’s proposals on the work done in this direction, including on the Law "On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan in Connection with Improving the Activities of the Accounts Chamber of the Republic of Uzbekistan", were reflected in the amendments to the Code of Administrative Responsibility.

In the direction of monetary policy, 4 control and analytical events were organized, 2 reports of the Chairman of the Central Bank were heard, and the implementation of 1 law was monitored.

The Committee’s proposals were also reflected in the corresponding Decree of the President of the Republic of Uzbekistan and the draft National Strategy for Increasing Financial Inclusion for 2021-2023. 

The committee preliminarily considered 13 laws on the implementation of reforms in the sectors of the economy and presented them for discussion at the plenary session of the Senate. The monitoring of the state of implementation of three laws was carried out, 7 round tables, seminars and conferences on the development of economic sectors and private entrepreneurship were organized.

The proposals and recommendations of the Committee on the liberalization of the economy and the widespread introduction of market mechanisms were reflected in 3 decrees of the President of the Republic of Uzbekistan.

The state of implementation of the Law "On Competition" was studied in 8 monopoly organizations, information from the relevant leaders was heard.

Nine control and analytical events were organized on the issues of economic and social development of territories, three times "round tables" were held on issues related to the interests of territories and voters.

Thus, the state of ensuring the implementation of investment programs, attracting additional funds to the budget of the Andijan region, the state of comprehensive development of the Tashkent region and ensuring guarantees of land rights in this area in accordance with the Land Code were studied. The results were considered at a meeting of the Kengash of the Senate.

At the plenary session it was noted that there are problems in the activities of the Committee, awaiting their solution. In particular, in the field of budgetary and financial relations, it is advisable to take measures to:

reflecting the procedure for the implementation of the target planning system in the 2022 Budget with the definition of target indicators of budget expenditures of all ministries and departments;

ensuring the participation of Uzbekistan in the Index of Budgetary Openness of the International Budgetary Community.

In matters of monetary policy, it is necessary: 

continue the process of privatization of state-owned banks by selling state-owned shares in banks to reputable foreign investors on the basis of a transparent competition;

develop and study the implementation of a national strategy for the implementation of "risk-oriented" supervision in banks, improving corporate governance, increasing the mass of financial services, applying international standards and best practices.

In matters of increasing the efficiency of economic reforms, it is advisable to determine as a priority task:

development of a macroeconomic development program in 2022-2026;

development of entrepreneurship through strengthening cooperative ties with neighboring countries.