DUSHANBE, January 25, 2013, Asia-Plus — More than half of the sum gained from selling shares in Roghun has already been spent, Minister Finance Safarali Najmiddinov told journalists on January 25.
According to him, 390 million somoni have remained on the treasury account of the Ministry of Finance (MoF).
414 million somoni have been used to purchase equipment for the Roghun hydroelectric power plant (HPP), the minister said.
We will recall that the sale of Roghun HPP shares has earned the government 804.7 million somoni. The sale of Roghun HPP shares has been stopped and not a single company share was sold in 2012.
To complete the construction of the Roghun station Tajikistan founded open joint-stock company (OJSC) NBO Roghun with an authorized capital of 116 million somoni in April 2008 after it formally revoked a contract with Russia”s RusAl aluminum company for the construction of the Roghun HPP in August 2007. The Tajik government accused the Russian company of failing to fulfill the contract signed in 2004. Tajik authorities and RusAl became bogged down in the hydroelectric plant”s dam model and height, crucial factors in its capacity.
To raise funds to complete construction of the Roghun HPP the government started to sell shares in Roghun to people on January 6, 2010. Tajikistan has reportedly issued 6 billion somoni worth of Roghun shares.
The budget for 2013 reportedly projects 946 million somoni for the recovery work at the site for the construction of the Roghun HPP.
In 2012, 1.1 billion somoni were provided for the recovery work at the Roghun site but 110 million somoni remained unused. This sum was reportedly into deposit accounts of the Ministry of Finance.
