Levan Davitashvili, Minister of Economy and Sustainable Development declares, that the work on the issue of reorganization of the partnership fund has been completed and the changes will be announced to the public soon.
"The work on the reorganization of the partnership fund has actually been completed. Accordingly, changes will be made to the "Law on Partnership Fund" and public will receive more detailed information", Davitashvili said.
Currently, the "Partnership Fund" is in the process of being abolishment but it is unknown in what form the activities of the reformed state organization will continue. The financing mechanism of the fund is also unknown, if in the past this financing was the dividend paid by the fund's subsidiaries, in the future, large subsidiaries will leave the fund and it will not be able to receive dividends from them.
At the same time, according to the memorandum signed with the IMF, the fund will not have the opportunity to take new debts. According to its latest report, the assets of the "Partnership Fund" totlas to GEL 4.6 billion, while the liabilities - GEL 3.17 billion. Currently, the fund owns two large enterprises, namely "Georgian Railway" and "Georgian Oil and Gas Corporation". In 2020, the consolidated income of the fund was GEL1.49 billion, and the loss - GEL 196 million.
