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The privatization process of public assets will be accelerated

The Decree of the President “On measures to further acceleration of the privatization processes of public assets” dated February 11? 2021 was adopted.

According to the Decree, during the organization of the public auction processes and sale of relevant public assets:

➖ attraction of professional organizations is carried out by the State Assets Management Agency or investment company “UzAssets”, based on the selection of the best proposals. At the same time, it is not required to conduct an examination of contacts concluded with them;

➖ allowed in the bidding process to take as a reference point the value or the range of value determined by professional organizations in order to implement state assets (regardless of the requirements of national standard for valuation activities);

➖ the requirement for the obligatory setting of the starting price of state assets of their value, recommended in the appraisal report of the appraisal organization and determined in its expertise conclusions is not applied.

➖ the State Commission for Tendering in the Sale of State Property is empowered to make decisions on the publication of announcements on the sale of state assets without announcing the starting price, as well as on the sale of state assets on the basis of the best of at least two proposals (regardless of the price recommended in the appraisal report and determined in the expertise conclusions).

By August 1, 2021, the procedure for selecting appraisal organizations, determining the cost and paying for their services in the privatization of state property based on the selection of the best commercial proposals will be introduced.