DUSHANBE, December 30, 2009, Asia-Plus — President’s decree on protection of rights of shareholders in open joint-stock company (OJSC), NBO Roghun, may promote attraction of funds for construction of the Roghun hydroelectric power plant (HPP), Dr. Hojimuhammad Umarov, expert on the Tajik economy, said in an interview with Asia-Plus.
According to him, people will buy shares in Roghun and president’s decree will promote this process, but this process must not be compulsory.
“I heard that ministries, organizations and enterprises make their employees buy shares in Roghun and donate to support Roghun’s construction,” said the expert, “On the one hand, the president has stated that shares are acquired on a voluntary basis, while on the other hand, local officials make people buy the shares and contribute money to the Roghun project, using various means of pressure and even threatening them with dismissal.”
Dr. Umarov also hailed the decision to legalize funds of people acquiring shares in Roghun. “This decree is one of forms of legalization of capital earned in violation of regulations governing business operations, such as through tax evasion,” said the expert, “However, the question arises whether person who has illegally earned 500,000 somoni and bought shares for only 7,000 somoni will be exempted form liability? In my opinion, they must consider this issue seriously.”
