Document from CIS Legislation database © 2003-2019 SojuzPravoInform LLC

RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of July 1, 2019 No. PP-4381

About measures for further enhancement of estimative activities and simplification of mechanisms of realization of low-profitable and non-producing plants with the state participation

Today in the country 226 estimative organizations, including the international companies in which staff more than 700 appraisers perform professional activity are effective, more than 110 thousand agreements on property assessment are signed. At the same time, the size of the market of estimative services in 2018 constituted only 50 billion bags.

Not the full compliance of activities of the estimative organizations to requirements of the present stage of economic reforms is the reasons of the developed condition. Estimative works in some cases are carried out formally and at insufficiently professional level, due independence, responsibility of the estimative organizations for objectivity of assessment of actual cost of objects and quality of the rendered services are not provided.

Also there are no single approaches and standards to assessment of the state and private assets owing to what the state assets are often estimated on unreasonably predatory prices that leads to increase in terms of their realization with further emergence of need of use of the mechanism of step-by-step reduction of prices.

For the purpose of further development of system of independent assessment, increase in professional level and quality of estimative services, implementation of effective methods of regulation of activities of the estimative organizations, strengthening of their responsibility for results and objectivity of the carried-out estimative works, and also simplification of implementation processes of the state assets:

1. Determine that:

licensing of activities of the estimative organizations and categorization of appraisers are performed by Agency on management of the state assets of the Republic of Uzbekistan;

licenses for implementation of estimative activities are granted without restriction of term of their action.

2. To agency on management of the state assets together with the Ministry of Justice of the Republic of Uzbekistan till December 1, 2019 to take measures for approval of single national standards of assessment of objects, irrespective of pattern of ownership, on the basis of the principles of international standards of assessment taking into account the best foreign the practician.

3. Agree with the offer of the Agency on management of the state assets, the Ministries of Finance, the Ministries of Justice and the Ministries of Economy and Industry of the Republic of Uzbekistan about simplification of procedures of implementation of the state blocks of shares (share) providing:

a) realization of the state assets is lower than their nominal value from original price of exposure;

b) exposure to the public biddings of the state blocks of shares (shares) in the authorized capital of economic societies without application of the privilege of acquisition by members of society at the starting price, equal pro rata share of net assets of societies for January 1, 2019 according to the balance sheet confirmed with auditing organization according to the list approved by the Cabinet of Ministers of the Republic of Uzbekistan. If the size of net assets of economic societies is less than the size of their authorized capital, the state blocks of shares (shares) are exposed at par value;

c) provision to investors of the right of acquisition of the state blocks of shares (share) with payment of cost of acquired state blocks of shares (share) by the money in national currency which is on their accounts in clearing houses of the commodity and raw exchanges on the correspondent accounts of "ENT specialist" of foreign banks opened in authorized banks of the republic;

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