The tasks in the field of privatization are defined

On March 24, President Shavkat Mirziyoyev held a meeting to discuss the course of privatization of state property and plans for the current year.

Privatization reduces the presence of the state in the economy and creates conditions for an increase in the number of private owners. To this end, large-scale work in this direction is being carried out in our country. So, if over the past ten years state assets worth 1.2 trillion have been sold, then in 2022 alone this figure reached 11.3 trillion soums. That is, over the past year, 10 times more effect has been achieved in this area than in ten years.

The efficiency of privatized facilities is also growing. For example, on the basis of the Andijan Experimental Plant, which has been inactive for many years, a textile enterprise has been organized with the attraction of investments for $ 18 million, a thousand jobs have been created, products worth $ 40 million have been exported. A foreign investor acquired the Kokand superphosphate plant, and having invested $ 40 million, increased production by 4 times. The sale of the state share in Mortgage Bank for $ 324 million and in Coca-Cola Uzbekistan for $252 million have also become the largest transactions in recent years.

However, the privatization process is not progressing dynamically in all regions and industries. For example, 112 facilities have been implemented in the Tashkent region, on the basis of which 150 business entities and more than a thousand new jobs have appeared. However, in Karakalpakstan, Kashkadarya, Namangan, Surkhandarya and Syrdarya regions, even 30 percent of the property put up for sale last year was not sold. In the context of industries, the privatization of assets of the Uzdonmakhsulot joint-stock company is proceeding most slowly.

In general, the inventory conducted in more than 30 thousand state facilities at the beginning of this year showed that there is still much to be done in the field of privatization.

In this regard, today the head of state by his decree approved a new privatization program, which defines activities in three areas — the sale of shares, real estate and the organization of IPO.

Firstly, state-owned stakes in 1 thousand enterprises will be put up for sale.

Secondly, 1 thousand real estate objects will be put up for public auction. They include 600 hectares of land and structures with a total area of 1 million square meters. Most importantly, they are provided with infrastructure and are located near populated areas.

In order to accelerate the implementation of these objects, the period of preparation of objects for sale will be reduced from the current 80 days to 48 days. It will be allowed to put up for sale objects with an area of up to 2 thousand square meters at the direct request of entrepreneurs.

Thirdly, the state share in 40 large enterprises and banks will be realized through the "people's IPO". In particular, for the first time, the population will be offered shares with an average yield of 2 percent of such large enterprises as Navoi and Almalyk Mining and Metallurgical Plants, Uzbek Metallurgical Plants, Uztelecom, the National Bank, Sanoatkurilishbank. The population will have the opportunity to buy shares directly from enterprises. Companies whose shares were acquired at the IPO will, within five years, direct at least 30 percent of their net profit to the payment of dividends.

According to estimates, this program will provide revenues in the amount of 13 trillion soums this year, will contribute to the creation of 3 thousand new enterprises and 50 thousand jobs.

At the meeting, these tasks were discussed in the context of regions and industries. The responsible persons provided information on the implementation of the program.

The importance of widely informing the population and entrepreneurs about the possibility of privatization of state property, providing them with assistance in paperwork was emphasized.

Instructions were given to bring large state-owned companies to the capital market and improve the efficiency of investment projects.