OREANDA-NEWS. January 04, 2010. Azerbaijani President’s decree on additional measures aimed at ensuring the process of use of state privatization cheques (vouchers) opens discussion about further directions in the country.

The State Committee for Property Affairs (SCPA) informs that in compliance with the decree it is to prepare and submit during three-month period the proposals for privatization in period after validity of vouchers expires.

“We will submit the proposals concerning our own vision of methods of privatization in post-cheque period. The final methods will be worked out after the government considers the issue,” the Committee indicated.

Under the decree, circulation period of the cheques was prolonged by another year. Now vouchers will be valid until 1st January 2011 (their previous expiration date was 1st January 2010). The relevant change was made in State Privatization Program II. At the same time the SCPA was charged with taking measures to provide wider use of privatization cheques in the course of privatization of state-run property.

The Committee was also was given three months for submission of proposals for new mechanisms of state property sales and use of privileges given to labour collective and persons equaled to them after voucher term expiration as payment mean during state property privatization.

Within one month the Cabinet Ministers is to make relevant changes to normative acts and make proposals for correction in legislative acts.

State privatization cheques were issued in 1997 for privatization of state-governed medium- and large-size enterprises. Earlier the chair of the State Committee for Property Affairs, Kerem Hasanov, informed that within the framework of it was written off over 75% privatization cheques and it is expected to withdraw more than 80% of vouchers from circulation until the end of 2009.