ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of August 13, 2005 No. 366

About the draft of the resolution of Jogorku Kenesh of the Kyrgyz Republic "About modification of Item 3 of the third stage and about approval of the fourth stage of the Program of privatization and privatization of Kyrgyzenergo joint-stock company

For the purpose of increase in system effectiveness of management and stabilization of the situation in electric power industry of the Kyrgyz Republic, acceleration of attraction of financing for construction of Kambaratinsky hydroelectric power stations, considering relevance and importance of further transformations in electric power industry of the Kyrgyz Republic by attraction of direct investments in the joint-stock companies formed based on Kyrgyzenergo joint-stock company according to the Law of the Kyrgyz Republic "About concessions and the concessionary companies in the Kyrgyz Republic" the Government of the Kyrgyz Republic decides:

1. Agree with the draft of the resolution of Jogorku Kenesh of the Kyrgyz Republic "About modification of Item 3 of the third stage and about approval of the fourth stage of the Program of privatization and privatization of Kyrgyzenergo joint-stock company.

2. Withdraw the order of the Government of the Kyrgyz Republic of June 16, 2004 No. 443 "About drafts of resolutions of chambers of Jogorku Kenesh of the Kyrgyz Republic on entering of amendments and changes into the Program of privatization and privatization of Kyrgyzenergo joint-stock company from Jogorku Kenesh of the Kyrgyz Republic and to declare it invalid.

3. Appoint the chairman of the State committee of the Kyrgyz Republic on management of state-owned property of the official representative of the Government of the Kyrgyz Republic by consideration of the above-named draft of the resolution by Jogorku Kenesh of the Kyrgyz Republic.

4. Send this resolution to Jogorku Kenesh of the Kyrgyz Republic for consideration in extraordinary procedure.

Project

The resolution of Jogorku Kenesh of the Kyrgyz Republic "About modification of Item 3 of the third stage and about approval of the fourth stage of the Program of privatization and privatization of Kyrgyzenergo joint-stock company

The Jogorku Kenesh of the Kyrgyz Republic, in view of recommendations of the Government of the Kyrgyz Republic about further development of energy industry of the Kyrgyz Republic, decides:

1. State Item 3 of the third stage of the Program of privatization and privatization of the Kyrgyz state and joint-stock holding company "Kyrgyzgosenergoholding" approved by the order of the Government of the Kyrgyz Republic of April 23, 1997 No. 239 "About the Program of privatization and privatization of the Kyrgyz state and joint-stock holding company "Kyrgyzgosenergoholding" in the following edition:

"3. Education based on JSC Kyrgyzenergo of open joint stock companies on functional signs, that is the companies developing, transferring and distributing the electric power:

a) JSC Elektricheskiye stantsii with inclusion in its 2001 structure of the Toktogul hydroelectric power stations, At-Bashynsky hydroelectric power station, the companies of hydroelectric power stations under construction, combined heat and power plant of the city of Bishkek and combined heat and power plant of the city of Osh, having provided possibility of transfer both JSC Elektricheskiye stantsii in general, and any its part, in concession according to the procedure, stipulated by the legislation the Kyrgyz Republic;

b) JSC Natsionalnaya elektricheskaya set Kyrgyzstana 2001 (as the legal successor of JSC Kyrgyzenergo) including the central dispatching service, high-voltage power lines of 110 kV and above (and also certain sites of power supply networks of 35 kilovolts of republican value) with all their substations, with transfer on its balance of the company of material logistics and picking, training center, having provided possibility of transfer both JSC Natsionalnaya elektricheskaya set Kyrgyzstana in general, and any its part, in concession according to the procedure, stipulated by the legislation the Kyrgyz Republic".

2. State the 4th stage of the Program of privatization and privatization of the Kyrgyz state and joint-stock holding company "Kyrgyzgosenergoholding" approved by the order of the Government of the Kyrgyz Republic of April 23, 1997 No. 239 "About the Program of privatization and privatization of the Kyrgyz state and joint-stock holding company "Kyrgyzgosenergoholding" in the following edition:

"4th stage:

1. The announcement of concessionary tender on objects IV quarter of energy complex of 2005

2. Sale of large state-owned shares (to 70%) 2006 of joint-stock companies "Bishkekteploset", "Severelektro", "Vostokelektro", "Oshelektro", "Zhalalabatelektro" (except JSC Elektricheskiye stantsii and JSC Natsionalnaya elektricheskaya set Kyrgyzstana) to strategic investors on competitive basis.

3. Summing up concessionary tender till the IV quarter to involvement of strategic investors on transfer in 2005 concession of joint-stock companies on production and transmission of electricity.

As a result of restructuring, privatizations and privatizations of JSC Kyrgyzenergo on its base are formed the following open joint stock companies:

"Power plants";

"National power grid of Kyrgyzstan";

Bishkekteploset;

Severelektro;

Vostokelektro;

Oshelektro;

Zhalalabatelektro.".

Toraga of Jogorku Kenesh

Kyrgyz Republic O. Tekebayev

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