Kyrgyzstan plans to sell state property for a symbolic $1, a senior privatization official has said.
"This is part of a new model for privatizing government property," said Dayir Kenekeyev, deputy head of the state property committee's center for direct investments, told reporters.
"The investor will receive a so-called 'clean' enterprise, meaning one that is free from debt, and promises to invest in its development every six months," said Keneyev.
"But new laws will be needed to introduce the new model, as existing ones do not cover this type of transaction," the official said.
Keneyev announced that the pilot project of giving enterprises to investors for a symbolic payment may be implemented before the end of this year. Two companies have been chosen for it: Aidanfarma, a drug company, and Aksui maize-processing plant.
Interfax, June 24, 2003