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ORDER OF THE GOVERNMENT OF THE REPUBLIC OF TAJIKISTAN

of December 30, 1998 No. 526

About approval of the Regulations on privatization of the state companies for individual projects

(as amended on on April 25, 2007)

In pursuance of Item 2 of the order of the Government of the Republic of Tajikistan of October 27, 1998 No. 418 "About approval of the list of the state companies, privatizeable on individual projects", the Government of the Republic of Tajikistan decides:

1. Approve the enclosed Regulations on privatization of the companies for individual projects.

2. To the state committee of the Republic of Tajikistan on management of state-owned property, the ministries, the state committees and departments, Chairmen of the Gorno-Badakhshan Autonomous Region, areas, the city of Dushanbe, cities and areas in case of privatization of the objects included in the list of the state companies privatizeable on individual projects, strictly to be guided by this Provision.

 

Prime Minister

Republic of Tajikistan E.Rakhmonov

Approved by the order of the Government of the Republic of Tajikistan of December 30, 1998 No. 526

Regulations on privatization of the companies for individual projects

1. General provisions

1. The regulations on privatization of the companies for individual projects (further - the Provision) are developed according to the Law of the Republic of Tajikistan "About privatization of state-owned property" for determination of the main directions on ensuring effective attraction of foreign and domestic investments, advanced technology and managerial experience, and also the procedure of sale of the companies for individual projects.

2. The purpose of privatization of the companies for individual projects is creation of stable group of the potential investors attracted to improvement of the basic companies of key industries of the national economy of the Republic of Tajikistan and extraction from this process of the greatest possible income in the budget of the state. The list of objects, privatizeable on individual the project, is approved by the Government of the Republic of Tajikistan.

3. Privatization on individual projects especially important and economically unique companies are subject.

4. The individual project includes:

- comprehensive analysis of activities and competitiveness of object;

- determinations of property, privatizeable;

- value assessment of its property complex;

- determination of the size of the state block of shares which is subject to sale;

- choice of method of privatization;

- sale of the state blocks of shares at the biddings.

5. Implementation of the individual project of privatization is assigned to the Commission on individual projects which structure is created according to this provision.

6. To participation and the biddings selling the state block of shares of the company, privatizeable on the individual project of privatization the physical persons and legal entities which were registered and procedure, by the established this Provision, except for legal entities of the Republic of Tajikistan whose share of the state in the authorized capital exceeds 25% are allowed.

2. Forming of the Commission on individual projects of privatization

7. The government of the Republic of Tajikistan creates the Commission on individual projects of privatization (further - the Commission) into which enter:

- The chairman of the State committee on investments and management of state-owned property of the Republic of Tajikistan - the commission chairman;

- deputy minister of justice of the Republic of Tajikistan;

- deputy minister of economic development and trade of the Republic of Tajikistan;

- Deputy Minister of Finance of the Republic of Tajikistan;

- vice-chairman of National Bank of Tajikistan;

- the vice-chairman of the Tax Committee under the Government of the Republic of Tajikistan;

- management of the ministries, departments and other governing bodies the privatized company;

- management of the company, privatizeable on the individual project;

- the head of department of state-owned property of the State committee on investments and management of state-owned property of the Republic of Tajikistan - the secretary of the Commission.

8. Commission:

- develops and approves regulations of the work. The decision is made by a simple majority vote members of the commission. In case of equality of votes - the voice of the chairman has crucial importance;

- determines structure of the working group;

- carries out the comprehensive analysis of activities and competitiveness of each company;

- claims in coordination with the Government of the Republic of Tajikistan of property value of the company and its price;

- if necessary involves domestic and foreign experts;

- makes preliminary qualified selection of bidders and determines the list of potential buyers and/or investors;

- prepares offers on the size of the state block of shares offered for sale in coordination with the Government of the Republic of Tajikistan;

- establishes criteria of determination of the winning bidder;

- determines the winning bidder who is given preference in case of sale of shares on resolutive conditions;

- signs the protocol following the results of work of the commission;

3. Preparation of the company for privatization on the individual project

9. For carrying out the comprehensive analysis of activities of the privatized company, searches of potential buyers, the organizations and tenderings and for other purposes connected with implementation of the individual project of privatization the Commission from number of persons employed of the relevant ministries and departments will create the Working group.

10. The working group carries out the comprehensive analysis of activities and competitiveness of the privatized company which can include the following data:

- details of the companies;

- about condition and structure of fixed assets: property rights, the extent of depreciation on fixed assets. Are applied the copy of the certificate on the right of land use or the land lease agreement; in case it is inadequate the drawn-up documentation copy of correspondence with the relevant departments;

- about intangible assets of the companies;

- about products or the rendered type of service: the made products (services), its main properties, quantity on main types, assortment, the existing problems, potential opportunities of improvement;

- about the market, demand of buyers: products market, sales volume, market capacity, potential of growth or reduction of this market, degree of compliance of profile of the company, its opportunities to requests of the chosen market; wholesale buyers, their location, amount of delivered goods, amount of products arriving directly to retail buyers;

- about production: I will eat around production (services), level of engineering procedure and reflection on product quality (services; characteristic of the equipment, level of physical wear, obsolescence; floor spaces and their use;

- about the competition: direct and indirect competitors; market of competitors;

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