Members of Tajikistan’s lower chamber (Majlisi Namoyandagon) have endorsed amendments offered by the government to the country’s two laws. According to these amendments, the government will now promote the establishment creation of joint-stock companies (JSCs) and limited liability companies (LLCs).
A regular sitting of the Majlisi Namoyandagon, presided over by its head, Mahmadtoir Zokirzoda, took place on June 1.
Presenting the amendments to lawmakers, Justice Minister Muzaffar Ashouriyon, in particular, noted that the amendments are made to the laws to set up legal foundation for opening joint-stock companies and limited liability companies in partnership with the government.
The minister noted that there had been no such procedure in the legislation before and the government bodies had not had the right to be the founder of a joint-stock company or a limited liability company.
“However, in practice, there is a need to establish such companies with the participation of the government, and according to new regulations, the government will able to act as a founder of a joint-stock company or a partner of a limited liability company,” Ashouriyon added.
After the session, Ashouriyon told Asia-Plus, “When the state-run enterprise becomes a joint-stock company, the government has share in it. For example, the government assumes the 100% ownership interest in the Open Joint-Stock Company (OJSC) and no one else owns shares in it. We included in the law that now the government can be a partner.”
Meanwhile, MP Fozil Obidzoda noted in an interview with Asia-Plus that the government now got the right to control enterprises and persons owning shares in them.
