The Ministry of Finance of Kyrgyzstan became the owner of 18.2803 percent of the shares of Kyrgyz Pochtasy OJSC. The ministry’s press service confirmed the information.
Earlier, the Ministry of Digital Development proposed to support the company by allocating funds from the state budget to cover the loan agreement with the Ministry of Finance, as well as for major repairs of the buildings of Kyrgyz Pochtasy OJSC.
To date, the debt of Kyrgyz Pochtasy OJSC to the state is about 309 million soms, which was formed under the loan agreement between the Ministry of Finance and the Kyrgyz Pochtasy State Enterprise under the Ministry of Transport and Communications in 2014.
«Taking into account the development of non-cash payments and switch of the population to non-cash payment for services, the number of users making payments in cash through post offices has sharply decreased. And this trend continues. This applies not only to accepting payments for services, but also to issuing pensions and benefits through the postal offices of Kyrgyz Pochtasy OJSC. These reasons are the main factors in reducing the profitability of Kyrgyz Pochtasy OJSC, which affects the financial position and is the determining factor in the impossibility of repaying loan funds allocated by the World Bank,» the Ministry of Finance said.
The Ministry of Digital Development proposed additional capitalization of Kyrgyz Pochtasy OJSC for 395.7 million soms and the sale of shares to the Ministry of Finance. The Cabinet of Ministers supported the idea, and the Ministry of Finance bought the shares. This was how the company’s debt was paid off and 85 million soms remained. This money will be used for major repairs of buildings and the creation of all necessary conditions for services, employees and the population served.
