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Only 5-6 enterprises with state share bring profit in Kyrgyzstan

Only 5–6 enterprises with state share bring profit in Kyrgyzstan. The head of the State Property Management Fund Bolsunbek Kazakov said at a meeting of SDPK parliamentary faction.

According to him, SPMF developed a draft resolution of the Parliament on the establishment of an open joint-stock company National Holding. «Energy Holding has already been established. This is a requirement of time. The current system does not meet the requirements. Each JSC has our representatives. They are appointed by competition, but do not show effectiveness because they are not professionals. Political events also have an impact," Bolsunbek Kazakov said.

He noted that Energy Holding had shown good results. «All state enterprises and JSCs with the state share were analyzed. The database of the Ministry of Justice includes 1,330 state enterprises. At least 166 of them work, and only 5–6 bring profit. SPMF has only 158 JSCs, 34 of which work, 13 — do not work, 6 are being abolished, and 2 are at the stage of bankruptcy," Bolsunbek Kazakov added.

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