Uzbekistan liquidates 295 state enterprises 

The Cabinet of Ministers adopted a resolution “On measures to expedite realization and liquidation of low-profit and inactive organizations”. 

According to the document, 295 low-profit and inactive state unitary enterprises (SUEs) are being liquidated in Uzbekistan.

The document states that all enterprises are state-owned. Many of the enterprises are on the balance sheet of the Council of Ministers of the Republic of Karakalpakstan, khokimiyats of the regions and the city of Tashkent.

As Norma reports, state-owned blocks of shares (stakes) in 63 companies will be put up for public auction without pre-emption rights. The starting price in this case is equal to:

- a proportionate share of the net assets of these companies;

- face value - if the size of net assets is less than the size of their authorized capital.

Liquidation or bankruptcy proceedings have been initiated against 295 low-profit and inactive entities. Among them, 51 limited liability companies with state participation from 3.05% to 100% (specified in the process of liquidation or bankruptcy) and 244 SUEs of various departmental affiliations throughout the republic.