In Uzbekistan, the verification of potential buyers for possible conflicts of interest during the privatization of major state-owned enterprises is purportedly being handled by international consultants. This was stated by Sohibjon Muradov, the head of the State Assets Management Agency (SAMA), during a recent press briefing, according to reports.

During the conference, reporters questioned how the state intends to prevent privatized assets from allegedly ending up in the hands of relatives and close associates of high-ranking officials. Muradov claimed that SAMA acts merely as a client, while the verification and screening for affiliated parties are supposedly the contractual responsibility of international consultants.

According to the agency's head, these specialists are expected to ensure that auctions are conducted in a competitive environment and that no conditions exist that could lead to the illegal sale of property due to conflicts of interest. Such tasks are predominantly assigned to the 'Big Four' accounting firms, namely Deloitte, PwC, EY, and KPMG, which participate in valuation and transaction support. * At the same time, Muradov pointed out that the constitution supposedly guarantees everyone the right to property ownership, meaning that a familial relationship with a civil servant does not automatically prohibit someone from purchasing assets. While automated database checks are integrated into platforms like E-auksion to screen participants based on existing executive order restrictions, specific loopholes remain.

Observers note that despite the enactment of a law on conflicts of interest in December 2024, critical details regarding the verification process remain vague. It is allegedly unclear what specific data consultants access to detect hidden ties with officials, whether these checks apply comprehensively to all bidding participants, and how many prospective buyers have actually been disqualified as a result.

Source: www.gazeta.uz