Tashkent, Uzbekistan (UzDaily.com) — By the resolution of the Cabinet of Ministers, the Regulation on the procedure for the implementation of state property located on the territory of the Republic of Karakalpakstan following the electronic competition to the applicant making the best offer with investment commitments has been approved.

In case the state property items put up for public auctions are not sold within three months, they will be sold to the applicant who made the best offer through an electronic competition on the "E-auction" trading platform, with an obligation to invest.

The document defines the procedures for:

determining the amount of investment commitments for state property items;

documenting the results of the competition and concluding a sales contract for state property items.

When organizing a competition for the sale of state property, the following must be specified:

the amount of investments;

the investment period;

the amount of the new starting price of the state property item.