Uzbekneftegaz, Uzbekistan Airways and airports to be transferred to private sector management

Until May 1 of this year, Uzbekneftegaz, until June, the airports of Tashkent and until September, Uzbekistan Airways will be transferred to the private sector.

On April 8, the president signed a decree "on regular reforms to improve the business environment and create conditions for sustainable economic growth through the development of the private sector."

In accordance with it, by May 1, with the involvement of an experienced investment bank, it is planned to begin the privatization of at least 49 percent of the shares of Uzbekneftegaz by the end of 2022, including through a public offering of shares (IPO), as well as begin the privatization of the state share in the amount of 51 percent and higher in Thermal Power Plants JSC.

Until September 1, it is planned to conduct auctions of the state share in the amount of 51 percent or more in the authorized capital of Uzbekistan Airways, including a public offering of shares (IPO).

Within 2 months, a draft resolution will be submitted to the Cabinet of Ministers on the transfer to the management of the private sector on the terms of a public-private partnership to modernize and increase the operational efficiency of the international airports of the Uzbekistan Airports company in the city of Tashkent.