Kerem Hesenov: "Sale of stocks of privatized companies through exchange is not expedient at the present moment"

As APA reports, the Chair of the Committee also added that because at the first stage of the privatization program enterprises are highly assessed, about 30% of enterprises have not been privatized. The State Committee is currently developing a special project in privatization of those enterprises.

Mr.Hesenov does not consider expedient sale of stocks of enterprises being open to privatization through the Baku Stock Exchange (BSE) at the present moment: "According to the existing legislative framework, stocks are put for sale in the Auction Centre of the Republic. Sale of stocks by means of the Stock Exchange is related to the secondary market and any participant of the Exchange wants to obtain income from sale of stocks in this field. When privatizing any enterprise through an investment competition, new jobs are created. At the present moment, we can not sell stocks by means of BSE. In the course of development of the securities market in the future, sale of stocks in the secondary market through the Stock Exchange will be possible."