Uzbekistan suspends privatization of strategic power facilities amid crisis

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Economy 27/05/2009 Uzbekistan suspends privatization of strategic power facilities amid crisis

Uzbekistan suspends privatization of strategic power facilities amid crisis

Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan has suspended the privatization of strategic power facilities because of the ongoing financial and economic crisis, a source with the Uzbek state property committee told Interfax on Wednesday.

It would be unwise to expect worthy and competitive proposals on purchasing power assets during the crisis, he said.

"We are not abandoning the idea of drawing foreign investors in the power sector, but this is not the best time for this now," the source said.

The privatization process in the power sector will be resumed in the future, he said.

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