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Kyrgyz Parliament allows energy companies to restructure 3.269bln debt

Sixty-six members of parliament voted in support of the allowing energy companies to restructure a 3.269 billion debt for unpaid taxes and loans. The initiative was totally supported by the Ak Zhol fraction, while communists and social-democrats refused to vote for it.

According to the parliament committees the main debt of 1.881,600 billion soms, whereof 1.387,700 billion is made by the Electricheskie Stantzii and 493.9 million – by the National Electrical Network of Kyrgyzstan, is to be discharged within 10 months with further even distribution for years. Originally the government offered to set a longer period – 25 years.

During the last parliament session the Minister of Industry, Energy and Fuel Resources Ilias Davydov said that the government will consider writing off of citizens’ debts in early 2009.

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