DUSHANBE, May 21, 2010, Asia-Plus — A contest on placement of free funds from sale of shares and certificates of Rogun Hydropower Plant public corporation to banks of Tajikistan has been postponed from 19 to 25 May this year, Tajik Ministry of Finance told the AP.
According to the source, the contest was postponed due to the lack of a quorum required for the opening of envelopes submitted by Tajik banks. “All applications were returned back to banks and should be resubmitted before 10a.m. May 25th this year,” the source has said. “All banks of the country are allowed to take part in the contest.”
According to the source, applicants should provide such information as liquidity, volume of requested amount and interest rates.
The amount of free funds from sale of Rogun shares by April 19 this year totals 347,1 million Somoni (approximately $79m), Tajik Finance Ministry said.
“Banks’ applications will be considered on May 25 by a special commission on a transparent basis,” the ministry has said. “The commission will prioritize banks with required liquidity level.”
Banks which refrain from the contest and in which funds gained from sale of Rogun shares are stored will have to transfer these funds to the account of the central Treasury of the Tajik Ministry of Finance within 72 hours after the completion of the competition, the source added.
