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Turkmenistan Establishes Commission on Privatization of State Property
Source: en.trend.az
Source Date: Friday, August 01, 2014
Focus: Citizen Engagement
Country: Turkmenistan
Created: Aug 05, 2014

Turkmen President Gurbanguly Berdimuhamedov signed a decree on the establishment of relevant interdepartmental central committee at the Ministry of Economy and Development of Turkmenistan for the execution of the law "On denationalization and privatization of state property".

The state on denationalization and privatization of state assets and the procedure of cost assessment of the denationalization or privatization facility were approved by another decree of the Turkmen head of the state.

In accordance with the decree, the Turkmen Ministry of Economy and Development was ordered to carry out the functions to ensure control over the execution of denationalization and privatization contracts, purchase and sale of state property, as well as to issue certificates of ownership to the owners of privatized enterprises and facilities in established order.

Earlier it was reported that the process of de-nationalization and privatization of state property will begin in Turkmenistan from July 1, 2014 in accordance with the law adopted in December 2013, according to the report of Turkmen Parliament.

"The non-state sector has been formed in the economy of the country, market institutions and such a new sector as the market of securities, joint stock companies, banks, a system of institutional investors and insurance companies are being developed. Moreover, the shortage of goods was overcome and an internal conversion of the national currency, the manat was ensured," the report said. 

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