OREANDA-NEWS. February 11, 2009. National commission on realization of insolvent enterprises' property to commercial banks gathered twice, the State Demonopolization Committee of Uzbekistan said.

In line with the presidential decree from 28 November 2008 "On measures for further improvement of financial sustainability of enterprises of real sector" and order "On approval of order on realization of insolvent enterprises to commercial banks", the commercial banks in Uzbekistan were granted right to take insolvent enterprises to their balance and improve their financial conditions.

This measure helps to attract investments of the banking sector to rehabilitation and reconstruction of insolvent enterprises and improve their management.

The commission during its sessions approved the work plan of the commission for the first half of 2009 and action plan on the realization of above mentioned documents, as well as regulation of the commission's activities.

It also created expert groups on development of competitive proposals on investments, which required for rehabilitation of bankrupt enterprises.

The commission determined list of bankrupt enterprises, which will be reviewed by the expert groups and they will be put for auction sales.

The commercial banks were entrusted to develop and submit business plans on rehabilitation, modernization and re-equipment of insolvent enterprises to the commission.

Currently, the work on rehabilitation of over 80 enterprises, which are in the balance of the commercial banks, has been started.