Work on the privatization of state property through auctions is proceeded by the State Service for Property Issues under the Ministry of Economy. Vehicles are put up for auction along with other state property. In January-August 2022, 29 auctions were held, at which vehicles were also taken out for privatization. Of the 721 vehicles put up for auction, 375 vehicles were sold, which is 3.3 times more than in the same period last year. A large number of orders for vehicles made the auctions more competitive. Although the initial sale price of vehicles for January-August 2022 totaled to 1,467,785 manats, it amounted to 1,843,318 manats following the results of competitive auction. In other words, the offer exceeded the initial sale price by 375,533 manats.
For 8 months of the current year, the funds received from the privatization of vehicles to the state budget are 3.9 times more than in the corresponding period last year.
