NEWS:
Uzbekistan establishes "Uzpahtasanoateksport" holding company .
28 October 2015
- The decree of the President of the Republic of Uzbekistan from October 27 formed the new holding company "Uzpakhtasanoateksport", which includes in its membership the following associations in the form of joint stock company:
- to organize the acceptance and processing of raw cotton – JSC "Uzpakhtasanoat" with its territorial branches, established on the basis of abolished association "Uzpakhtasanoat", with the formation of the statutory fund at the expense of the transfer of state shares in authorized funds of territorial joint-stock associations of "Pahtasanoat";
- to ensure the storage and export of cotton fiber – JSC "Uzpahtaeksport", with the formation of its authorized capital at the expense of the transfer on the appraised value of the share of foreign trade companies under the Ministry of foreign economic relations, investments and trade of the Republic of Uzbekistan in the statutory funds of cotton terminals;
- on production of cottonseed oil – JSC "Uzpahtayog'", with the formation of its authorized capital through transfer of state blocks of shares (stakes) in the statutory funds of the enterprises for manufacture of cottonseed oil, at the same time removing them from the Association of food industry enterprises.
The main tasks and directions of activity of the holding company "Uzpakhtasanoat" are defined:
systematic conduction of marketing researches on a conjuncture of world and regional cotton market and on this basis, on the basis, with regard to prevailing on them trends, the working out of necessary proposals on further improvement of the system of regional accommodation of released varieties of cotton, in terms of volume, range and varieties of raw cotton production;
ensuring common policy in the field of organization and implementation of the whole complex of work related to acceptance from farms and processing of the country's raw cotton, the production of high quality competitive on the international market cotton fiber, the implementation of storage in accordance with international requirements and standards;
- ensuring strict accounting and control over the reliability of data on the quantity, quality and grade of cotton received from farmers, indicators of outputs of cotton fiber and cotton seed, the quantity and quality of cotton fiber and oilseed products produced and sold by enterprises in accordance with established standards and agreements, as well as the organization of the audit office with the inspectors in the regions to conduct intra-branch supervision and inspection work;
- based on global market conditions, organization of a conclusion of export contracts on delivery of cotton fiber and ensuring their timely implementation;
- ensuring the settlement payments for purchased raw cotton and shipped for export and to domestic consumers of cotton products in accordance with the concluded agreements and contracts;
- organization of deep processing of cotton seed and ensure production of high-quality cottonseed oil and other fat products;
- carrying out uniform technical policy, assistance to cotton ginning enterprises, oil mills, cotton terminals in the implementation of modernization, introduction of modern advanced equipment and technology, attracting investments, especially foreign direct;
- organization of retraining and advanced training of the staff in the field of cotton processing and oil industry.
According to the decree of the head of state, the initial authorized capital of the holding company "Uzpakhtasanoateksport" will be formed at the expense of the property of the being abolished "Uzpakhtasanoat" association, as well as the transfer of 100% of shares of JSC "Uzpakhtasanoat", "Uzpahtaeskport" and "Uzpahtayog'".
The established Government commission will be responsible to coordinate and assist in the implementation of the whole complex of organizational measures on creation of the holding company "Uzpakhtasanoateksport" and its structural subdivisions.
The decree instructed the Government commission to:
- draw up and implement a specific action plan to ensure the accomplishment of all the necessary organizational measures for the formation of the holding company "Uzpakhtasanoateksport";
- in a week term to develop and introduce in established order proposals on organization of activity of the holding company;
- jointly with the holding company within one month in accordance with the established procedure to develop and approve the statutory and constituent documents of the holding company;
- jointly with the holding company "Uzpakhtasanoateksport" in a month term to ensure the careful selection of the staff of the Executive office of the holding company and its affiliated joint stock companies, comprised of highly qualified specialists.
In addition, according to the decree, the holding company "Uzpakhtasanoateksport", JSC "Uzpakhtasanoat", "Uzpahtaeksport" and "Uzpahtayog'" are exempt from payment of fees for state registration for an issue of securities and the fee for consideration of documents on the issue of securities.
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UzReport.