Cabinet of Ministers: 665 million soums from the sale of Bukhara Palace will be directed to the khokimiyat’s special bank account

The proceeds from the sale of the hotel complex Bukhara Palace will be partially directed in a targeted manner. The corresponding draft resolution of the Cabinet of Ministers has been publicized.

The document notes the followings:

Buildings and facilities of a hotel complex owned by the SUE Bukhara Palace, following the results of an auction, were sold for 27.5 billion soums to a foreign company – the Wide Tent System JSC;

As of September 30, 2019, the foreign enterprise under the terms of the transaction paid 15.8 billion soums;

The Bukhara Palace hotel complex has debts in the amount of 665,977,159 soums.

The State Assets Management Agency of Uzbekistan on the basis of decisions of the competent courts, transferred 665,977,159 soums to the bank account of the regional khokimiyat from the sale of buildings and structures of the Bukhara Palace hotel complex. 

The khokim of the Bukhara region Uktam Barnoyev will ensure the opening of a special account and debt recovery in accordance with the established procedure for the execution of court decisions to repay the debts of the SUE Bukhara Palace.