BAKU, Azerbaijan, Nov. 12
By Klavdiya Romakayeva - Trend:
Some 39 production facilities in Uzbekistan will introduce corporate governance and financial audit, increase operational efficiency with government participation, Trend reports referring to the State Asset Management Agency of Uzbekistan.
The list of these facilities includes Almalyk Mining and Metallurgical Complex JSC, Uzmetkombinat, Uzbek Plant for the Procurement and Processing of Non-Ferrous Scrap, Tashkent Metallurgical Plant and Fergana Oil Refinery LLCs, Uzbekugol, Angrenskaya, and Novo-Angrenskaya TPPs, Uzexpocentre JSCs, etc.
The Agency, together with the relevant ministries and departments, selects reputable international consulting organizations for each enterprise on a competitive basis for financial recovery, improving operational efficiency and medium and long-term development strategies.
A recent workshop on improving the operational efficiency of state-owned enterprises through the implementation of corporate governance and financial audit highlighted the need to implement a system of key performance indicators (KPI).
Representatives of the JV British American Tobacco Uzbekistan JSC (UzBAT) with the participation of foreign investments and Uzbek Republican Commodity and Raw Materials Exchange JSC presented the KPI system introduced at their enterprises.
UzBAT uses the KPI system not only for members of the executive body, but also for each employee, and employees, in turn, are encouraged depending on the level of performance indicators.
The introduction of the KPI system is an important and modern tool, the use of which allows any company to constantly analyze its financial and economic situation and assess the process of implementing strategic goals.
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