ORDER OF THE GOVERNMENT OF THE REPUBLIC OF TAJIKISTAN

of May 31, 2019 No. 272

About Coordination council concerning management of fiscal risks of the state companies

According to article 13 of the constitutional Law of the Republic of Tajikistan "About the Government of the Republic of Tajikistan", for the purpose of realization of Item 3 of the presidential decree of the Republic of Tajikistan "About the Strategy of management of fiscal risks of the state companies for 2016-2020", the Government of the Republic of Tajikistan decides:

1. Create Coordination council concerning management of fiscal risks of the state companies.

2. Approve provision and structure of Coordination council concerning management of fiscal risks of the state companies (appendix 1 and 2).

3. To the Ministry of Finance of the Republic of Tajikistan together with the Ministry of Economic Development and Trade of the Republic of Tajikistan, the Ministry of Energy and Water Resources of the Republic of Tajikistan, the Industry ministry and new technologies of the Republic of Tajikistan, the Ministry of transport of the Republic of Tajikistan, the State committee on investments and management of state-owned property of the Republic of Tajikistan, the Tax Committee under the Government of the Republic of Tajikistan, the Agency of civil aviation under the Government of the Republic of Tajikistan, the state companies to provide timely execution of this resolution.

Appendix 1

to the Order of the Government of the Republic of Tajikistan of May 31, 2019 No. 272

Regulations on Coordination council concerning management of fiscal risks of the state companies

1. General provisions

1. The coordination council concerning management of fiscal risks of the state companies (further - Council) is consultative body under the Government of the Republic of Tajikistan and provides interaction and coordination of management of fiscal risks of the state companies.

2. Council in the activities is guided by the Constitution of the Republic of Tajikistan, the Law of the Republic of Tajikistan "About public finances of the Republic of Tajikistan", the presidential decree of the Republic of Tajikistan "About the Strategy of management of fiscal risks of the state companies for 2016-2020", this Provision and other regulatory legal acts of the Republic of Tajikistan.

2. Purposes and tasks of council

3. Council is created for the purpose of protection of financial and valuable interests, implementation of corporate management and increase in efficiency of activities of the state companies in which the share of the state constitutes Bol 50 percent.

4. The main objectives of Council are:

- development of necessary documentation for management of fiscal risks of the state companies;

- carrying out monitoring of strategy implementation of management of fiscal risks of the state companies.

3. Rights and obligations of council

5. Council when implementing the activities has the following rights:

- submission of offers on modification in legislative and the regulatory legal acts regarding controling mechanisms risks at the state companies;

- support in development of analytical tools for monitoring and decrease in potential risk factors on financial and economic activities of the state companies;

- representation of the approved report forms of the state companies for carrying out monitoring of their activities;

- assistance to the procedure of agreement signature about cooperation between heads of the state companies, physical persons and legal entities, including domestic and foreign investors, and also to receipt of the credits, laying of property of the state companies or their delivery in lease;

- attraction in accordance with the established procedure domestic and foreign experts, consultants and scientists for assessment of condition and the course of implementation of actions within the Strategy of management of fiscal risks of the state companies;

- involvement of donors for effective implementation of actions within the Strategy of management of fiscal risks of the state companies.

6. Obligations of Council for coordination of questions of management of fiscal risks of the state companies:

- the analysis of legal, economic and social condition in management of fiscal risks of the state companies;

- approval of regularly updated Action plan of Strategy of management of fiscal risks of the state companies;

- hearing of semi-annual and annual statements of the state companies;

- determination of priority activities of the state companies;

- submission of offers on modification and amendments in the corresponding regulatory legal acts concerning reducing receivables and payables of the state companies;

- representation in accordance with the established procedure recommendations and offers to the President of the Republic of Tajikistan and the Government of the Republic of Tajikistan on further enhancement of state policy in the sphere of management of fiscal risks.

7. Other rights, obligations and competence assigned within current laws to Council.

4. Organization of activities of council

8. Form of activities of Council is the meeting.

9. Meetings of Council are held at least two times a year, and in the necessary cases connected with important issues can the emergency meeting is held.

10. At meetings of Council management is performed of the chairman of the board, and in case of its absence meetings are held by the vice-chairman of Council.

11. Members of council have the right in writing to make offers on creation of work plans and the agenda of meeting of Council.

12. The meeting of Council is considered competent if at it there are more than a half of his members. Decisions of Council are made by a majority vote, the members of council who are present at meeting by open voting. In case of equality of votes, the voice of the Council presiding over meeting is decisive.

13. Decisions of Council are drawn up by the protocol and signed by the chairman and the responsible secretary of Council.

14. Council can delegate powers on information request, on publication of reports and on other questions to the secretariat.

15. Depending on questions of the agenda of meeting of Council at meeting can without voting power participate representatives of the ministries and departments, local executive bodies of the government, the addressed business entities, the state authorized inspection bodies and others.

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