Tashkent, Uzbekistan (UzDaily.com) -- According to the decree of the President of the Republic of Uzbekistan from 26 November 2019, the Uzsuvtaminot joint-stock company was organized, its authorized capital was formed by handing over state assets and their shares in the authorized capital of state unitary enterprises of the Ministry of Housing and public service. These businesses have been reorganized as limited liability companies. This was reported by the press service of "Uzsuvtaminot".

Joint Stock Company "Uzsuvtaminot" and LLCs included in its organizational structure have been transferred to a new system of corporate governance.

Prior to this, the form of government of state unitary enterprises until now consisted of a founder and a director, in connection with which the corporate governance system at these enterprises did not work properly, along with performance indicators, no assessment was given of the financial and economic activities of enterprises.

To date, changes have been made to the corporate governance system of 17 regional water supply limited liability companies that are part of the organizational structure of the Uzsuvtaminot joint stock company, together with the organization of supervisory boards on the ground, an internal audit service is being introduced.

Criteria for assessing the effectiveness of the activities of regional water supply companies have been introduced; if the performance of the executive body is recognized as unsatisfactory for two consecutive quarters, the termination of the employment contract concluded with the director of this company is envisaged.