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    Uzbekistan World Economics

    Uzbekistan's president proposes leaving 50% of personal income tax to local budgets

    Uzbekistan's president proposes leaving 50% of personal income tax to local budgets

    President Shavkat Mirziyoyev has convened a meeting addressing the socio-economic progress and challenges facing the Fergana region, as reported by presidential press secretary Sherzod Asadov.

    Photo: Uzbekistan's president proposes leaving 50% of personal income tax to local budgets
    Source: Presidential press secretary Sherzod Asadov

    Over the past seven years, investments in the Fergana region have tripled, marking a substantial increase in economic activities. Local producers have successfully penetrated 60 new markets, indicating a growing footprint in global and regional trade. However, despite these achievements, the region faces challenges, particularly in industrial output growth, where it currently lags behind other areas in the country. Major industrial activities are concentrated in Fergana, Kokand, and Uchkuprik district, underscoring the need for more balanced economic distribution across the region.

    President Mirziyoyev emphasized concerns regarding the competitiveness of local cement production vis-à-vis imported products, citing high production costs as a hindrance. Regional cement factories operate at only a third of their capacity, pointing to inefficiencies that need urgent redress. The president highlighted the role of local governance in addressing specific issues such as energy costs, essential for improving industrial efficiency and competitiveness.

    A critical aspect addressed during the meeting was the slow implementation progress of projects under the Initiative Budget framework. Immediate steps were instructed to expedite allocations from the regional budget towards resolving infrastructure challenges concerning electricity, gas, and road networks in 35 mahallas (neighborhoods).

    In a bid to empower local governance and enhance fiscal autonomy, President Mirziyoyev proposed a rule to allocate up to 50% of the personal income tax collected in the region to district and city budgets. This initiative aims to strengthen local financial resources for addressing community-level priorities effectively.

    Furthermore, the president mandated regular communication from khokims (governors) and their deputies to the local population and businesses on economic developments and investment projects. A dedicated commission within the regional kengash (council) will oversee these efforts to ensure transparency and accountability in economic governance.

    Addressing social welfare concerns, President Mirziyoyev called for a review of the poverty reduction system, advocating for new strategies to broaden the reach and effectiveness of community support programs. This includes expanding the scope of the makhalla "seven," a community-based initiative, to better engage with and support the local population.

    The president announced the integration of poverty reduction and social support tasks under the National Social Protection Agency, aiming for streamlined and efficient delivery of welfare services across the region.

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    12.07.2024, 19:38   Comments (0)   2006
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