The President signed a resolution “On additional measures to further reduce state participation in the economy and accelerate privatization”.
According to the document, the Ministry of Finance was instructed to ensure through a comprehensive transformation and privatization of commercial banks with a state share:
• before October 1, 2022 – public offering (IPO) of shares of JSCB Qishloq Qurilish Bank;
• by the end of 2022 – putting up for auction the state shares of JSCB Uzsanoatqurilishbank and JSCB Asakabank with the involvement of the International Finance Corporation, the EBRD, as well as the ADB;
• before July 1, 2023 – organization of work on public offering (IPO) on the stock exchange of shares of JSC Khalq Banki, JSCB Microcreditbank, JSC Aloqabank, JSCB Agrobank, JSC Uzmilliybank.
In addition, the State Assets Management Agency, the Ministry of Finance and the Ministry of Economic Development and Poverty Reduction were instructed to involve international consulting, audit and investment consultants, investment banks or other specialized companies to the process of evaluation and implementation of LLC Universal Mobile Systems, by April 1, 2023, take measures for its privatization.
The Republican Commission for the Liquidation of JSC Uzagrokimyokhimoya and territorial JSC Agrokimyokhimoya and the State Assets Management Agency were instructed to ensure, within two months, that buildings and structures owned by JSC Uzagrokimyokhimoya and territorial JSC Agrokimyokhimoya, including with the transfer to the agency.