President of Uzbekistan Shavkat Mirziyoyev signed a decree, according to which the process of privatization of the largest enterprises in the fuel and energy, transport, and other sectors of the country begins. Report informs, citing TASS that the document was published on Saturday by the Narodnoye Slovo newspaper, the mouthpiece of the parliament and government of the republic.
"By May 1, 2022, with the involvement of an experienced investment bank, to begin (preparations for privatization should be completed - TASS) the work on the privatization of Uzbekneftegaz JSC, including through a public offering (IPO) of shares in the amount at least 49%, as well as a state share of 51% or more in Thermal Power Plants JSC and complete it by the end of 2022, the decree says.
Also, by September 1, 2022, a state share of 51% in the authorized capital of JSC Uzbekistan Airways will be put up for auction, including through a public offering (IPO) of shares.
The decree provides for the privatization through the sale of stakes in UzAuto Motors JSC, UzAuto Motors Powertrain JSC, and Samarqand Avtomobil zavodi LLC, as well as the transfer of regional international airports and Tashkent International Airport subordinate to Uzbekistan Airports JSC to the private sector.
In accordance with the document, the government of the republic, with the participation of the World Bank, will develop a strategy for the transformation, development, and privatization of JSC Uzbekistan Pamir Yullari (Railways of Uzbekistan).