President Shavkat Mirziyoyev yesterday signed Measures For Massive Improvement Of Cotton Industry Management System Decree.
The document has pointed to the problems that hamper the development of the national cotton industry. Among them - insufficient technological innovation, poor diversification of manufacturing, ineffective management system and others.
The decree provides for creation of a single entity responsible for the cotton industry - JSC UzPahtaSanoat through the merger of UzPahtaSanoat and UzPahtaExport, and the liquidation of the holding company UzPahtaSanoatExport. JSC UzpahtaYog was taken out of the system and added into the fat and oil industry.
The assets of the reorganized companies, including their public shares, rights and obligations shall be transferred to the newly created JSC UzPahtaSanoat.
Measures are planned to control acceptance, transportation, processing of cotton raw materials and sale of finished products, which will rule out figure falsifications and other distortions.
Center for certification of cotton fiber SIFAT under the Cabinet of Ministers is to be merged into UzStandard agency.
In an intent to strengthen financial discipline in the cotton industry. The Main Office of Financial Control within the Ministry of Finance has been assigned the control over the reliability of accounting and reporting at ginneries.
