RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of December 9, 2020 No. 775

About measures for further enhancement of system of efficiency evaluation of activities of executive bodies of the companies with the state participation

For the purpose of efficiency evaluation of activities of executive bodies of the companies with the state participation, increases in their responsibility and creation of monitoring system the DECIDES: Cabinet of Ministers

1. Take into consideration that according to article 79 of the Law of the Republic of Uzbekistan "About joint-stock companies and protection of shareholder rights" the amount of remunerations of the director, board members of society are in direct dependence on efficiency of activities of society and shall be determined by the agreement.

2. Agree with the offer of the Agency on management of the state assets (further - the Agency), the Ministry of Economic Development and reducing poverty of the Republic of Uzbekistan about implementation of advanced system of efficiency evaluation of activities of executive bodies of the companies with the state participation.

3. Determine that:

encouragement of members of executive body is not allowed if results of efficiency of activities of executive body of the company with the state participation are not posted on the official website of the Agency or their activities are acknowledged unsatisfactory or performed at a low level;

in case of appreciation following the results of year of efficiency of activities of executive body of the companies with the state participation, including commercial banks, in accordance with the established procedure based on the decision of relevant organ of management the lump-sum bonus at the rate to five percent of net profit can be provided. Information on the size of the paid bonus is posted on the official website of the companies with the state participation within two days from payment date.

4. To the agency:

a) together with the Department of Energy of the Republic of Uzbekistan in two-month time to develop other indicators of power consumption and energy efficiency, to approve rules of their calculation and normative indicators;

b) together with the State Tax Committee, the State committee according to the statistics, the Ministry of development of information technologies and communications, the Ministry of employment and employment relationships, the Ministry of investments and foreign trade of the Republic of Uzbekistan:

in a month to finish works on introduction of data on the companies with the state participation and legal entities in their system, including the balance sheet and the report on financial results, in information system of the State-owned property Agency;

in two-month time to provide development of the software for the companies with the state participation providing entering of data on key performance indicators of their activities online into the information system "State-owned property";

till February 1, 2021 to adjust system of calculation of share of the companies with the state participation in economy, their gross domestic product, export volumes, forming of investments into fixed capital, share in production and employment of the population and monitoring following the results of every quarter;

till March 1, 2021 to adjust automatic integration of investment projects of the companies with the state participation, the workplaces created as a result of their realization, and other data in the information system "State-owned property";

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