President Shavkat Mirziyoyev announced at a meeting on July 21 that a new privatization program is being prepared. Under the program, 1,300 real estate properties, 8,000 hectares of land, and state stakes in 66 enterprises with a total value of 100 trillion soums (approximately $8.34 billion) will be put up for sale.
The head of state criticized local governors (khokims) for failing to conduct systematic work on selling state property. Currently, 3,000 state-owned objects worth 22 trillion soums have been put up for auction.
For entrepreneurs purchasing state assets, the initial payment is planned to be reduced from 30% to 15%, and the remaining amount will be allowed to be paid in interest-free installments.
The meeting also reviewed assets on banks' balance sheets. Currently, 2,411 objects worth 9.3 trillion soums remain unsold. The president ordered an analysis of the basis for keeping each object on banks' balance sheets.
Tax revenues were also discussed. Since the beginning of the year, they have grown by 27% and exceeded 130 trillion soums. However, only 40% of the annual plan for additional revenues has been fulfilled, with 12 trillion soums collected.
Mirziyoyev criticized the first deputy governors for insufficient work with enterprises to increase tax revenues. The Bukhara region was cited as an example, where 162 enterprises with turnover exceeding 100 million soums operated at a loss for three consecutive years and did not pay income tax.
Additionally, 1,500 enterprises did not pay VAT, merely recording it. Consequently, the first deputy governor of Bukhara region was dismissed.
Since July 1, the authority to collect taxes from 498 large taxpayers has been transferred to local levels. First deputy governors and heads of territorial tax authorities have been tasked with directly working with these enterprises and ensuring full tax collection.
According to a Fitch Ratings report, state assets worth approximately $5.1 billion were privatized in Uzbekistan between 2021 and 2025. The agency's preliminary estimates indicate that privatization volume in 2025 alone amounted to $1.6 billion.
Source: www.gazeta.uz