|
Privatization in Kyrgyzstan was introduced on December
20, 1991, with a program for the transfer of almost all state-owned
enterprises.
The ownership
transformation process in the Kyrgyz economy started in 1992 with the
privatization of small-scale enterprises. In 1992 and 1993, 97.2 percent of
small companies in retail trade and food processing, 86.7 percent of
companies in catering, and all service companies were privatized.
Privatization of medium- and large-scale enterprises in core sectors, such
as industry, transport, and construction began in 1994 and coincided with
the certificate (coupon) stage of mass privatization. In order to
facilitate coupon privatization, the Government allowed the sale of 25
percent of the state shareholdings in companies eligible for mass
privatization through coupon auctions. By the completion of the mass
privatization program in mid-1997, 926 medium and large companies had been
placed in full or majority private ownership. By the end of 1997, the
private sector represented 65 percent of GDP, the highest among all CIS
republics.
The third stage of privatization, currently underway, has as its major
objective denationalization of the large monopolies.
|
|
The
privatization program for 2001-03 calls for privatization of the major
assets over the next two years. The list includes telecom operator,
Kyrgyztelekom; power generator and transmission company, Kyrgyzenergo; gas
company, Kyrgyzgaz, and national airline Kyrgyzstan, Aba Zholdoru.
|
