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State Property Management Fund to inventory energy companies’ property

The State Property Management Fund has begun inventory and reassessment of assets in the energy sector of Kyrgyzstan. Press service of the agency reported.

According to it, for the first time since independence, Kyrgyzstan will conduct an inventory and reassessment of the assets of eight energy companies of the country — Electric Stations OJSC, Chakan HPP OJSC, National Electric Network of Kyrgyzstan OJSC, Vostokelectro OJSC, Oshelektro OJSC, Jalal-Abadelektro OJSC, Severelectro OJSC and Bishkekteploset OJSC.

On September 21, 2017, based on the results of a tender, a contract with the international consulting company Grant Thornton (Armenia), Grant Thornton LLC (Kyrgyzstan) and Grant Thornton Appraisal (Kazakhstan) was signed. International consultants conducted two-stage training for more than 1,500 employees of power companies. A methodological base for inventory and revaluation has been developed in accordance with international standards.

An inventory will start in all eight energy companies in the first ten days of March.

«After its completion, the company’s assets will be revalued. Further processing of the data will allow reassessing the property contribution of the State Property Management Fund into the authorized capital in the form of a batch of shares of joint-stock companies. Another challenge is the introduction of an IT asset management system that will improve accounting in energy companies,» commented the agency.

The inventory and reassessment of assets of energy companies is a component of the project "Rehabilitation of Toktogul HPP. Phase II "and is financed at the expense of the grant funds of the Asian Development Bank in the amount of $ 2.4 million. The project will be completed in 2019.