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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;

d) cancellation of the requirement about availability of the audit opinion confirming positive financial result of activities within three last years for implementation of underwriting activities, and about provision of the certificate of educational institution on the termination of rate of retraining or advanced training of specialists of the security market for receipt of the competence certificate of the security market.

4. Resolve, according to the procedure of exception, to Agency on management of the state assets and economic societies with the prevailing share of the state in coordination with Agency on market development of the capital of the Republic of Uzbekistan involvement of the organizations for rendering services in implementation of securities till January 1, 2020 without receipt of the license for implementation of professional activity in the security market as the investment consultant and without creation new or participations in the authorized capital of the acting legal resident person.

5. To the Cabinet of Ministers of the Republic of Uzbekistan to accept the resolution providing approval in a month:

a) the list of the state blocks of shares (shares) in the authorized capital of economic societies exposed on the public biddings without application of the privilege at the starting price, equal pro rata share of net assets of societies;

b) the list of the low-profitable and idle organizations on which liquidation procedures or bankruptcies are initiated.

6. To the Ministry of Justice together with Agency on management of the state assets of the Republic of Uzbekistan in two-month time critically to study activities of the Republican center of judicial examination of name X. Sulaymanova in the field of conducting examination on cost determination of property on requests of judicial investigating bodies regarding compliance to the legislation on estimative activities with introduction of specific proposals for enhancement of its activities, including having provided unification of methodology of examination on cost determination of property with the existing standards and the international requirements in this sphere.

7. Agree with offers of the Agency on management of the state assets, Association of the estimative organizations and Society of appraisers of Uzbekistan on implementation:

since August 1, 2019 categorization of appraisers, proceeding from the level of their qualification and membership in professional public organizations in the field of estimative activities;

practicians of the publication of results of categorization on websites of the Agency on management of the state assets, Association of the estimative organizations and Society of appraisers of Uzbekistan;

Association of the estimative organizations and Society of appraisers of Uzbekistan since January 1, 2020 of score of the estimative organizations assigned on the basis of monitoring of valuation reports, availability in staff of competent appraisers, the occupied this estimative organization of share in the market and other criteria with its publication on websites of public organizations.

8. To the state committee according to the statistics, since August 1, 2019 to implement calculation of index of rise in price of installation and construction works on monthly basis.

To the ministry of construction, the State committee on land resources, geodesy, cartography and the state inventory, the Ministry of Economy and Industry, together with Association of the estimative organizations of the Republic of Uzbekistan and other interested departments till January 1, 2020 to provide the review and updating of the enlarged indicators of replacement cost considering current trends of construction of buildings and constructions.

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