Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev on 18 August signed a resolution aimed at further improving the mechanism for reforming state-owned enterprises and banks.

In March 2023, the head of state approved a list of 31 large state-owned companies that are subject to reforms and operational efficiency improvements between 2023 and 2025. The shares of these companies held by the State Assets Management Agency and other ministries (including 23 shares managed by the Ministry of Economy and Finance) were transferred to the balance sheet of the Strategic Reform Agency, which was entrusted with the task of implementing reforms in these companies.

This list included such companies as Navoi and Almalyk mining and metallurgical plants, Uzbekugol, UzGasTrade, Uzbekneftegaz, etc.

In the new decision, the shares of these enterprises are transferred under the jurisdiction of the Ministry of Economy and Finance, which will take responsibility for the reform of enterprises.

In addition, the president instructed the Fund for Reconstruction and Development of Uzbekistan (FRDU) to delegate to the Ministry of Economy and Finance the functions of shareholder and share management in nine banks and Uzmetkombinat for an indefinite period. We are talking about such banks as Agrobank, Asakabank, Uzpromstroybank, Khalq Bank, Turonbank, Qishloq Qurilish Bank, Aloqabank, NBU and Microcreditbank.

In the event of a change in the state share, the management of shares is transferred to the competence of the Ministry of Economy and Finance.