Azerbaijan will hold its first auctions as part of a major privatisation programme between September 14 and 20, Trend news agency reported citing the country's State Property Issues Committee.
Azerbaijan announced plans for a wide-ranging privatisation programme in January as part of the government's efforts to better balance its budget and increase efficiency in some of the key sectors of the economy. However, progress on the programme has been slow. Earlier this summer, authorities launched a portal - www.privatization.az - which has since been populated with some 100 companies, primarily with industrial and agricultural entreprises.
At the September auction, the government will seek to privatise part of 50 companies, and to sell 62 non-residential buildings and 26 vehicles, the committee said.
Azerbaijan’s finance minister said in January the government will be seeking to raise AZN100mn (€54mn) through privatising state assets this year. The government’s privatisation push also aims to revive the energy-rich nation's stalling economy that has been badly hard by falling oil prices.
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