The implementation of tasks to reduce state participation in the economy and further accelerate privatization processes was discussed

At a meeting of the Senate Committee on Budget and Economic Affairs, a preliminary report was heard from the State Assets Management Agency on the work done to reduce state participation in the economy and further accelerate privatization processes, the press service of the Senate reports.

During the discussion, senators noted that in recent years, systemic reforms have been carried out to reduce state participation in the economy, increase the share of the private sector through the privatization of state property and the development of entrepreneurship, and the liquidation of inefficient and unpromising enterprises.

Thus, since 2021, more than 500 business entities and state unitary enterprises with a state share in the authorized capital, about 3.4 thousand real estate objects have been privatized, 1,027 enterprises have been liquidated and 964 have been reorganized.

Also, as a result of the privatization of state assets in 2021-2024, more than 35.8 thousand new jobs have been created.

In November 2024, more than 3 million shares of the Republican Commodity and Raw Materials Exchange were sold to the population within the framework of the People’s IPO program, and almost 11 thousand people became shareholders.

The measures taken to increase revenues to local budgets through the efficient use of state assets in the regions are also yielding results.

Thus, in 2021-2024, revenues in the amount of about 1.4 trillion soums were provided through the lease of empty state-owned real estate, of which 245.1 billion soums were directed to local budgets.

As a result of consistent measures aimed at creating more favorable conditions for entrepreneurs, more than 50 public services were provided to the private sector.

During the meeting, senators noted that half of the enterprises with a state share of more than 50% operate at a loss, are inactive and are in the process of liquidation. The bulk of these enterprises are in the Tashkent and Kashkadarya regions and the city of Tashkent.

The senators gave their proposals and recommendations to the responsible departments to prevent cases of untimely application of mechanisms for reducing the starting price during the privatization of state property, and failure to fulfill investment obligations for acquired state assets.

A corresponding decision was made by the Committee following the meeting.