RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of December 14, 2000 No. 4974

About creation of the State fund of development of the textile industry of Turkmenistan

For the purpose of development of textile industry and strengthening of its material resources I decide:

1. Create the State fund of development of the textile industry of Turkmenistan.

2. Approve enclosed:

Regulations on the State fund of development of the textile industry of Turkmenistan;

3. Open special manatny and currency accounts of the State fund of development of the textile industry of Turkmenistan in Prezidentbank of Turkmenistan.

4. Determine that Council of the State fund of development of the textile industry of Turkmenistan exercises control of execution of all contracts in foreign trade and investment projects with participation of the foreign companies, and also behind use of means according to external loans in the textile industry of Turkmenistan.

Approved by the resolution of the President of Turkmenistan of December 14, 2000 No. 4974

Regulations on the State fund of development of the textile industry of Turkmenistan

1. The state fund of development of the textile industry of Turkmenistan (the Fund is referred to as) is created for the purpose of support of development of the textile industry and growth in volumes of production of its products.

2. For management of fund Council which structure affirms the President of Turkmenistan is created.

3. The fund is formed for the account:

proceeds from sales of all types of products of the textile industry;

the means received from redistribution of profit and the depreciation charges of the companies of the textile industry;

recoverable amount of the objects of the textile industry transferred according to decisions of the Government of Turkmenistan to other ministries and departments;

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