Presidential Resolution on establishing State Agricultural Joint Stock Company of Turkmenistan.

The President enacts to establish the State Agricultural Joint Stock Company of Turkmenistan setting high production of grain, cotton other agricultural crops by effective use of arable lands, irrigation water and agricultural machinery as its main task. The State Agricultural Joint Stock Company of Turkmenistan is to establish lower joint stock companies in velayats and etraps and executive departments in the gengeshliks in accordance with established order. The State Agricultural Joint Stock Company of Turkmenistan is to: 1) at its own expense employ wage labourers to produce wheat, cotton and other agricultural crops on vested lands; 2) process 60 per cent of cotton produced and put products at free prices on national and foreign markets, and allocate earned profit for development of sectors included into the Joint Stock Company; 3) extend input tax and insurance benefits for manufacturers over the State Agricultural Joint Stock Company as well as to be exempted from obligatory transfer of profits in foreign currency to the Interbank Foreign-Currency Exchange of Turkmenistan and Foreign-Currency Insurance Fund of Turkmenistan.