RESOLUTION OF JOGORKU KENESH OF THE KYRGYZ REPUBLIC

of May 18, 2016 No. 524-VI

About modification of the Privatization program of state-owned property in the Kyrgyz Republic for 2015-2017 approved by the resolution of Jogorku Kenesh of the Kyrgyz Republic of June 29, 2015 No. 5408-V

The Jogorku Kenesh of the Kyrgyz Republic decides:

1. Bring in the Privatization program of state-owned property in the Kyrgyz Republic of pas 2015-2017 approved by the resolution of Jogorku Kenesh of the Kyrgyz Republic of June 29, 2015 No. 5408-V, the following changes:

add with Item 13-1 of the following content:

"13-1. The list of objects which privatization is performed by introduction of the state blocks of shares as contribution to the authorized capital of "National Energy Holding Company" open joint stock company (further - JSC National Holding Company) is determined according to appendix 4 to this Program".

2. Determine that the shares of JSC Natsionalnaya energeticheskaya holdingovaya, kompaniya belonging to the state cannot be sold, pledged, exchanged on account of repayment of external debt of the Kyrgyz Republic, are delivered in trust management. The property of this joint-stock company is not subject to any kinds of alienation, including indirect.

3. Recommend to the Government of the Kyrgyz Republic to consider questions:

- inclusions in structure of JSC National Energy Holding Company of open joint stock companies "Naryngidroenergostroy", "Narynspetsgidroenergomontazh", "Karakul Hydroelectric Power Station" and "Naiman of Hydroelectric Power Station";

- reconstructions of the Department of Energy as state body on development of policy in strategically important industry of economy of the republic;

- carrying out complete inventory and asset revaluation of the open joint stock companies which are part of JSC National Energy Holding Company till January 1, 2017.

4. To impose control of execution of this resolution on Committee of Jogorku Kenesh of the Kyrgyz Republic on economic and fiscal policy (N. K. Makeev) and Committee of Jogorku Kenesh of the Kyrgyz Republic on fuel and energy complex and subsurface use (K.DZh. Ryspayev).