RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of June 9, 2014 No. 150

About approval of programs - "road maps" for financial and economic improvement of unprofitable, economically insolvent and low-profitable enterprises of mechanical engineering and the electrotechnical industry

 For the purpose of financial and economic improvement, increase in competitiveness of products, rational use of floor spaces and broad investment attraction for upgrade, technical and technological rearmament of production capacities of the companies of mechanical engineering and the electrotechnical industry the Cabinet of Ministers decides:

1. Take into consideration that JSC Uzeltekhsanoat, JSC BMKB-Agromash, by JV Fayz LLC together with Goskomkonkurention, the Ministry of Economics and the Ministry of Finance of the Republic of Uzbekistan the programs - "road maps" for financial and economic improvement of unprofitable, economically insolvent and low-profitable enterprises of mechanical engineering and the electrotechnical industry providing are developed:

measures for effective and rational use of fixed assets, including due to upgrade, technical and technological updating of the existing productions, the maximum loading of capacities and mobilization of all available reserves;

decrease in cost of products by optimization of production processes and the areas, reducings technological losses and specific consumption rates of raw materials and materials per unit of products;

organizational and technical actions for economy of fuel and energy resources, implementation of the modern energy saving equipment and information and communication technologies;

actions for replenishment of current assets by optimization of cash flows, restructuring of financial liabilities of the companies, reducing debit and creditor debts.

2. Approve:

developed programs - "road maps" for financial and economic improvement of unprofitable, economically insolvent and low-profitable enterprises of mechanical engineering and the electrotechnical industry according to appendices No. No. 1 - 4;

the target parameters predicted following the results of 2014 for the realization account of programs - "road maps" for financial and economic improvement of unprofitable, economically insolvent and low-profitable enterprises of mechanical engineering and the electrotechnical industry according to appendix No. 5.

3. Agree with Goskomkonkurention's proposals, the Ministries of Economics and the Ministries of Finance of the Republic of Uzbekistan about capitalization of the actual debt of JSC Chirchiq Transformer Plant to the budget and the state trust funds at the time of capitalization implementation, on account of increase in share of the state in authorized capital of the company, including the added penalty fee and penalties.

To provide to Goskomkonkurention together with the Ministry of Finance of the Republic of Uzbekistan increase in the state share in authorized capital of JSC Chirchiq Transformer Plant in accordance with the established procedure.

4. Confer the personal responsibility on heads of the relevant ministries, departments, hozobjedineniye and companies for timely implementation of actions, and also accomplishment of the target forecast parameters provided by programs - "road maps" for financial and economic improvement of the companies of mechanical engineering and the electrotechnical industry.

5. Goskomkonkurention, to the Ministry of Economics, the Ministry of Finance of the Republic of Uzbekistan to provide:

together with heads of JSC Uzeltekhsanoat, JSC BMKB-Agromash and JV Fayz LLC implementation of actions of adopted agendas - "road maps" on financial and economic improvement of unprofitable, economically insolvent and low-profitable enterprises of mechanical engineering and the electrotechnical industry, having paid special attention on questions of optimization of idle assets and restructuring of financial liabilities, and also replenishments of current assets of the companies, including at the expense of credit resources of commercial banks;

on the basis of the critical analysis system monitoring of the course of implementation of actions, provided in programs - "road maps", with introduction to the 5th, quarterly in the working group of the Cabinet of Ministers of the Republic of Uzbekistan of the relevant information.

6. To the deputy prime minister of the Republic of Uzbekistan, head of working group U. U. Rozukulov:

provide quarterly consideration at meetings of the Complex of the course of realization of adopted agendas - "road maps" on financial and economic improvement of unprofitable, economically insolvent and low-profitable enterprises of mechanical engineering and the electrotechnical industry, with acceptance of additional measures for acceleration of accomplishment of the provided actions;

on the basis of the critical analysis of accomplishment of actions following the results of 2014 to report at meeting of Presidium of the Cabinet of Ministers results of realization of adopted agendas - "road maps" on financial and economic improvement of unprofitable, economically insolvent and low-profitable enterprises of mechanical engineering and the electrotechnical industry.

7. To impose control of execution of this resolution on the deputy prime minister of the Republic of Uzbekistan U. U. Rozukulov.

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