Privatization of state assets in the energy sector: assessing investment efficiency, a system of criteria, and the experience of Uzbekistan

Abstract

This study addresses the issue of the effectiveness of selling state assets and reducing the state’s share in the energy sector, one of the most extensively developing sectors in the current period, as well as the question of how such effectiveness can be measured. Analysis based on official sources and statistical materials shows that the reduction in the portfolio of state-owned enterprises does not adequately reflect the effectiveness of privatization. Based on this, the thesis proposes an assessment system consisting of four blocks and an integrated index. The system was tested on three entities; however, the calculations are conditional in nature because the financial terms of the transactions are not fully disclosed.