RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of August 15, 2018 No. 664

About measures for further stimulation and increase in competitiveness of the companies of the textile industry

For the purpose of timely providing textile industry with current assets of the companies, creating favorable conditions for their stable work, increase in the export potential of industry, and also creation of new workplaces the Cabinet of Ministers decides:

1. Take into consideration that effective period of balance of the cotton fiber approved by the resolution of the President of the Republic of Uzbekistan of January 18, 2018 No. PP-3483 "About the main indicators of production and supply of cotton fiber of harvest of 2017 in January-August, 2018" expires on August 15, 2018.

2. Establish procedure according to which cotton fiber is implemented through the exchange biddings, proceeding from requirement of the textile companies without restriction, in the following procedure:

a) harvest of 2017 - on the terms of 15 percentage advance payment, with provision for other 85 percent of the bank guarantee, with carrying out final settlements within 90 days;

b) harvest of 2018 - on the terms of 35 percentage advance payment, with provision for other 65 percent of the bank guarantee, with carrying out final settlements within 90 days.

3. Make changes and additions to the resolution of the Cabinet of Ministers of February 12, 2018 No. 106 "About enhancement of the mechanism of realization and calculations for the cotton fiber made by the companies of JSC Uzpakhtasanoat" (the joint venture of the Republic of Uzbekistan, 2018, No. 2, the Art. 31) according to appendix.

4. To the ministries and departments to bring the regulatory legal acts adopted by them into accord with this resolution in a month.

5. To impose control of execution of this resolution on the deputy prime minister - the Minister of Finance of the Republic of Uzbekistan D. A. Kuchkarov and the deputy prime minister of the Republic of Uzbekistan N. S. Otazhonov.

Appendix

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of August 15, 2018 No. 664

Changes and additions made to the Resolution of the Cabinet of Ministers of February 12, 2018 No. 106 "About enhancement of the mechanism of realization and calculations for the cotton fiber made by the companies of JSC Uzpakhtasanoat"

1. In Item 5 to add with the paragraph third the following content:

"At the same time, the realization of cotton fiber for the domestic textile enterprises at the exchange biddings for national currency is enabled on basis:

15 percentage advance payment, with provision for other 85 percent of the bank guarantee, with carrying out final settlements within 90 days of harvest of 2017;

35 percentage advance payment, with provision for other 65 percent of the bank guarantee, with carrying out final settlements within 90 days of harvest of 2018".

2. In appendix No. 1:

a) to state paragraph two of Item 12 in the following edition:

"below the approved listed wholesale prices including tax for value added, in case of realization to the organizations of the republic suppliers estimate the value added tax, proceeding from actually developed prices at the exchange, on the following formula: the actual sales price increased on 20/120 (the value added tax = the actual sales price? 20/120)";

b) to exclude words from the paragraph of the fourth Item 17 "in Fund on account of debt repayment of JSC Uzpakhtasanoat for the received means or".

3. In appendix No. 2:

a) state Item 14 in the following edition:

"14. Delivery of products by sellers of cotton fiber is performed on the terms of 100 percent advance payment.

At the same time, the realization of cotton fiber for the domestic textile enterprises at the exchange biddings for national currency is enabled on basis:

15 percentage advance payment, with provision for other 85 percent of the bank guarantee, with carrying out final settlements within 90 days of harvest of 2017;

35 percentage advance payment, with provision for other 65 percent of the bank guarantee, with carrying out final settlements within 90 days of harvest of 2018";

b) state Item 17 in the following edition:

"17. Buyers have the right:

conclude at the exchange bargains on acquisition of products in the amounts provided in the advance payment;

inspect cotton fiber and make its selection in quantity and quality according to terms of transaction on acquisition of products;

require creation of the inspection report (selection) of cotton fiber in places of its storage, before signing of the act of acceptance transfer of goods (accomplishment of the conditions of its delivery stipulated in stock exchange transaction)";

c) to add Item 19 after the words "on the concluded stock exchange transaction" with the words "according to Item 14 of this provision";

d) state Item 20 in the following edition:

"20. RCP shall within one working day after receipt of necessary money according to the purchase and sale agreement send the register of the paid transactions, according to requirements of this provision, to personal office of the seller";

e) state Item 21 in the following edition:

"21. The seller after obtaining from RCP of information on the advance payment made by the buyer according to Item 14 of this provision performs delivery of products to the buyer within 3 working days on the terms of FCA – the cotton terminal or other delivery conditions stipulated in stock exchange transaction.

After accomplishment by the seller of the delivery conditions of goods stipulated in stock exchange transaction, the seller and the buyer draw up the delivery-acceptance certificate of products on the registered stock exchange transaction".

4. In the Actions block of stage VI of the Scheme of realization of cotton fiber at the exchange biddings of appendix to the Regulations on procedure for realization of cotton fiber at the exchange biddings:

a) in Item 1 of the word of "means for complete covering of financial liabilities" shall be replaced with words "necessary money";

b) state Item 2 in the following edition:

"2. RCP of the exchange directs to the seller the register of the paid transactions to the arrived amount according to requirements of this provision that is the basis for execution of the delivery-acceptance certificate of cotton fiber".

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