The government is seriously concerned over debts of large companies and banks, and in this connection, it orders relevant bodies to take adequate measures during this year to reduce debts of large state-run companies and banks.
By government’s decree issued on January 30 the Ministry of Finance is ordered, jointly with ministries and agencies, to take necessary measures to reduce debts of large state-run organizations.
The document notes that Barqi Tojik (Tajikistan’s national integrated power company), Tajik Aluminum Company (TALCO), Dushanbe International Airport, Tajik Air (Tajikistan’s national air carrier), Tajik Railways (Tajikistan’s state-owned railway company), Amonatbonk (Tajikistan’s savings bank), Agroinvestbonk and Tojiksodirotbonk (TSB) should be involved in taking the mentioned measures.
Although Agroinvestbonk and Tojiksodirotbonk are not legally sate-owned companies, the government now owns more than 80 percent of the shares in these lenders.
According to the official statistical data, a total debt of large and medium-sized enterprises and organizations rose nearly 21 billion somoni (equivalent to 2.2 billion U.S. dollars) in a year to October 31, 2017, reaching 63.4 billion somoni (equivalent to 6.7 billion U.S. dollars).
Meanwhile, total receivables of these enterprises are little more than 20.1 billion somoni (equivalent to 2.1 billion U.S. dollars).
Barqi Tojik accounts for more than one-third of total debts of the country’s state-owned enterprises and organizations.
Current debts of Barqi Tojik (funds attracted for implementation of investment projects included) amount to some 23 billion somoni (equivalent to 2.4 billion U.S. dollars).
The percentage of loss-making enterprises and organizations in the overall number of the state-owned enterprises and organization is some 28 percent.
