These changes were made to the resolution adopted on February 29, 2025. This is already the seventh time the government has extended management at this company.
The State Agency for Management of State Property has been instructed to:
1) submit a candidate for the position of temporary external manager in the established manner;
2) notify the authorized body for the registration of legal entities about the introduction of temporary external management at Kum-Shagyl JSC.
The resolution comes into effect on November 8, 2025.
Background
According to the State Committee for National Security (GKNB), the quarry near the 12th microdistrict was illegally privatized by Kum-Shagyl JSC.
According to GKNB, the strategic facility and adjacent lands were unlawfully transferred to the private company Kum-Shagyl JSC in 2004, which contradicts the legislation.
This production complex includes a quarry for the extraction of gravel, crushed stone, and other materials, as well as a plant for the production of high-quality construction products.
“For 20 years, this facility has generated significant income for private individuals, while the state received nothing,” noted GKNB.
As a result of the investigative actions, a plot of land covering 17.7 hectares, valued at 1 billion 953 million soms, was returned to the state,” GKNB reported.
After the lawsuit was filed, the Bishkek City Court returned the entire industrial complex and adjacent territories to state ownership. GKNB also informed that the main figure in the case has been placed on the international wanted list.
Reference
According to data from the Ministry of Justice as of August 27, 2024, the head of Kum-Shagyl JSC is Kutmanov Ermek Osmonovich, and among the founders of the joint-stock company are 46 individuals.
