PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of February 11, 2021 No. UP-6167

About measures for further acceleration of processes of privatization of the state assets

According to the Presidential decree of the Republic of Uzbekistan of October 27, 2020 No. UP-6096 "About Measures for the Accelerated Reforming of the Companies with Participation of the State and Privatization of the State Assets", and also for the purpose of acceleration of attraction of private investments into economy:

1. Take into consideration that practice of implementation of modern methods of privatization of the state assets with involvement of the international consulting, auditor and investment consultants, investment banks and other specialized companies is begun (further - the professional organizations).

2. Establish procedure according to which under the organization of processes of exposure to the public biddings and realization of the state assets specified in appendices No. No. 1 and 2 to this Decree:

involvement of the professional organizations is performed by Agency on management of the state assets or UzAssets investment company on the basis of selection of the best offers. At the same time conducting examination of the agreements signed with them is not required;

it is allowed to accept in the course of the biddings as reference point the cost or the range of the cost determined by the professional organizations for the purpose of realization of the state assets (irrespective of requirements of the national standard of estimative activities);

the requirement about obligatory establishment as the starting price of the state asset of their cost recommended in the valuation report of the estimative organization and determined in the conclusion of its examination is not applied;

Power is conferred to state commission on privatization of the state assets and coordination of processes of privatization to make decisions according to the publication of announcements of realization of the state assets without announcement of the starting price, and also realization of the state assets on the basis of the best of at least two offers (irrespective of the price recommended in the valuation report and determined in experimental testimony).

3. Determine that since February 1, 2022 under the organization of effective management of the state asset (privatization, transfer to trust management, entering into authorized capital of the economic societies, other cases connected with the order and preserving integrity of the state assets) the procedure for determination of initial cost of services of the estimative organizations, assessment and selection of their offers takes root.

To agency on management of the state assets together with the Ministry of Finance till January 15, 2022 to develop and submit for approval in the Cabinet of Ministers procedure for determination of initial cost of services of the estimative organizations, assessment and selection of their offers under the organization of effective management of the state assets.

3-1. The means which arrived from implementation of the state blocks of shares (shares) realized by way of their transfer to the authorized capital of investment company JSC UzAssets (less the storage expenses approved by the Supervisory board of JSC UzAssets, including the expenses connected with pre-sale preparation and realization of the companies), are quarterly transferred to off-budget fund on management, transformation and privatization of the state assets under Agency on management of the state assets and distributed according to the procedure, established by acts of the legislation.

At the same time on the means which arrived from realization of these assets, JSC UzAssets is exempted from the tax discharge on profit, and also the dividend tax withheld at payment source.

4. Make changes and additions to some acts of the President of the Republic of Uzbekistan according to appendix No. 3.

5. Assign to the deputy prime minister D. A. Kuchkarov and the director of the Agency on management of the state assets A. Zh. Ortikov the personal responsibility for the effective organization of execution of this Decree.

Quarterly discussion of course of execution of this Decree, implementation of coordination and control of activities of the departments responsible for its execution to assign to the Prime Minister A. N. Aripov.

Appendix No. 1

to the Presidential decree of the Republic of Uzbekistan of February 11, 2021 No. UP-6167

The list of the state assets put up for sale in 2021

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