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State Property Fund to be turned into analogue of Samruk Kazyna, Singapore Fund

The State Property Management Fund should be transformed into a management company following the example of Samruk Kazyna and the Singapore Fund. The Minister of Economy of Kyrgyzstan Oleg Pankratov said at a meeting of the Parliament.

According to him, at present, the issue of appraisal activity is acutely discussed. It is impossible to develop and adopt a law on appraisal activities in Kyrgyzstan, because this would contradict the agreement on the Eurasian Economic Union. Only certain rules can be included in the law on the privatization of state property. But this does not guarantee that the property valuation will really be effective, the official said.

«I agree with Ekmat Baibakpayev that while the state fund does not receive a percentage of the sale of privatized property, there will be no sense. There will always be loopholes. We proposed a law on holdings, but it was not adopted. Now we are again conducting this work in order to turn the fund into a management company. We will again develop the necessary bill. If the deputies support it, we will be grateful,» stressed Oleg Pankratov.