UzLiDeP discusses issues of privatization

MPs of Legislative Chamber, Local Councils of People’s Deputies, representatives of economic courts, justice bodies, Chamber of Commerce and Industry, party members, businesses and farmers participated in the event, which discussed draft law “On privatization”, the press service of UzLiDeP said.

The draft law was developed in line with the concept on deepening democratic reforms and forming civil society in the country. The draft law is aimed at further increasing share of the non-government sector in economy, stimulate attracting private investors to sectors of economy, ensure equal rights to investors in privatization process, protection property rights, etc.

Qobiljon Toshmatov, MP of Legislative Chamber and member of UzLiDeP faction, said that the law “On denationalization and privatization”, adopted in 1991, created a legal base for privatization in process of economic reforms. He said that the Concept pays special attention to privatization. He noted that 80 legal acts in sphere of privatization were adopted in Uzbekistan, but they do not meet modern requirements. So, there is need to revise the legislation.

It was noted that some clauses of the law, for example, determination of form of privatization by labour, do not meet modern requirements. It was said that such events will help to review the draft law and improve it.

In the result of measures adopted to decrease participation of the state in economy, the private sector acquired 179 state assets, of which 83 on zero redemption price for of 114.95 billion soums, including 70.8 billion soums of investment obligation. The investments will be directed to modernize capacities and create new jobs.

As of 1 January 2014, the monitoring on execution of 175 agreements on sales of the state assets is conducted (with investment obligations for US$204.9 million and 173.9 billion soums, including 8 agreements with foreign investors).

Businesses and experts underlined that the draft law will improve regulation of privatization of the state property and ensure openness and transparency of the privatization process once it adopted.