According to the amendments made, in subparagraph 1 of paragraph 2 of the document adopted on June 20, 2024, under number 325, the amount allocated for increasing the charter capital of GSO has risen from 1.15 billion soms to 2.65 billion soms. Additionally, one of the paragraphs of this subparagraph has been declared invalid.
The purpose of these changes is to ensure more efficient use of budgetary funds and to redistribute expenditures of the republican budget for the current year, as stated in the text of the resolution.
Previously, according to resolution No. 325, the shareholder rights of the Open Joint Stock Company "GSO" were transferred from the State Agency for Management of State Property to the Ministry of Finance of the Kyrgyz Republic. This document also provided for a phased increase in the company's capital, with a funding plan for the following timelines:
- 300 million soms — in 2024,
- 2.5 billion soms — in 2025,
- 2.5 billion soms — in 2026,
Furthermore, the resolution includes a provision that 100% of GSO's net profit until 2027 will be directed towards increasing the charter capital through a dividend mechanism.
The new amendments from the Cabinet clarify and increase the parameters of the provided funding.
The resolution will come into effect 7 days after its official publication in the newspaper "Erkin Too."
