Bishkek, Oct. 3, 2018. /Kabar/. The State Property Management Fund (SPMF) is conducting work on assessing the profitability of joint stock companies with state’s share, Chairman of the SPMF Renat Tuleberdiev told at a press conference at the Kabar News Agency.
He said that the Fund had developed and approved a methodology for carrying out work on the assessment of profitability. “The methodology will consist of 8 financial indicators and 4 non-financial indicators. This is important both for the joint-stock companies themselves and for us,” he said and added that there are 22 joint-stock companies with state’s share.
In addition, Tuleberdiev noted that due to the large interest in the wages of members of the board of joint-stock companies, innovation would be introduced.
“We are introducing innovations today. Now the salary of the above-mentioned persons will depend on the plan for the implementation of work on net profit. We bind the salary to key indicators. There will be an incentive to increase state profits. It is important that the same methodology towards employees,” he added.
In addition, the Fund will determine key indicators for state-owned enterprises until November 1.
“We have 99 state-owned enterprises, of which about 6 are dominant in terms of net profit. Now, we and the sectoral ministries are introducing key indicators, and, we hope, we will have introduced them by November so that the system will start working from 2019,” he added.
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