The Cabinet of Ministers of the Kyrgyz Republic instructed the Ministry of Energy to liquidate OJSC National Energy Holding Company

The Cabinet of Ministers of the Kyrgyz Republic instructed the Ministry of Energy to liquidate the National Energy Holding Company OJSC. This is stated in the Cabinet resolution dated September 18, 2023.

The Ministry of Energy should:

• Make a decision to liquidate National Energy Holding and form a liquidation commission;
• Conduct an inventory of regulatory legal acts regarding the activities of National Energy Holding and submit a proposal for consideration to the Cabinet of Ministers.

The Cabinet of Ministers recommends to the liquidation commission:

• Carry out appropriate measures to liquidate National Energy Holding,
• Transfer the property, assets and shares of subsidiaries of OJSC National Energy Holding Company to the balance sheet of the Ministry of Energy.

The government decree “On the creation of an open joint-stock company “National Energy Holding Company” dated January 6, 2016 No. 4 was declared invalid.

Control over the implementation of this resolution is entrusted to the department for monitoring the execution of decisions of the President and the Cabinet of Ministers of the Administration of the President of the Kyrgyz Republic.

This resolution comes into force on the date of official publication. The document was published in the Erkin Too newspaper dated September 26, 2023 N 77.

Reference

The joint stock company was created by government decree of January 6, 2016.

The government decided to create OJSC National Energy Holding Company with 100 percent state participation in its authorized capital in order to reform the management of the energy industry.

As a result, the State Property Management Fund was instructed to act as the founder of the open joint-stock company “National Energy Holding Company” within two weeks in accordance with the established procedure, determining its authorized capital in the amount of 5,000,000 (five million) soms, divided by 50,000 (fifty thousand) ordinary registered shares with a par value of 100 (one hundred) soms per share.

The structure of National Energy Holding included such energy companies as:

- JSC "NESK";

-JSC "Chakan HPP"

- OJSC "Bishkekteploset"

-JSC "Severelectro"

- JSC "Vostokelektro"

- JSC "Zhalalabatelectro"

- JSC "Electric Stations"

- OJSC "Oshelektro"

- OJSC "Kyrgyz Energy Settlement Center"