"Uzbekistan Airways" is losing 120 million dollars in revenue due to suboptimal route selection, long intervals between flights, numerous delays, and a lack of competition in the catering and technical service sectors. This was announced today, July 21, at a videoconference meeting chaired by President Shavkat Mirziyoyev.
The meeting also critically analyzed the costs of strategic enterprises. It was noted that previously, sectors had reported reducing total costs as a percentage and lowering product costs. However, an analysis conducted on the cost per unit of product revealed the true situation.
For example, at the Navoi Mining and Metallurgical Combine, the cost of 1 ounce of gold increased by 8.2 percent. The enterprise's total costs increased by 6.2 trillion soums, or 22 percent, compared to last year.
At "Uzbekistan Metallurgical Combine," the production cost of steel balls increased by 5.4 percent, at "Uzkimyosanoat" by 11.1 percent for urea, and by 8.3 percent for ammonium nitrate.
It was noted that the company "Franklin Templeton" analyzed the activities of 13 large companies that were supposed to go public (IPO).
Using the example of "Uzbekistan Airways," it was shown that 120 million dollars in revenue is being lost due to suboptimal route selection, long intervals between flights, numerous delays, and a lack of competition in the catering and technical service sectors.
It was also stated that 8 billion dollars will be required for the development of energy infrastructure over the next 10 years.
Currently, insufficient work is being done to increase revenue by reducing losses in the sectors. In the first half of this year, electricity losses amounted to 17.2 percent, or 4.8 billion kilowatt-hours.
Losses in the gas network reached 7.6 percent, i.e., 797 million cubic meters. It was noted that labor productivity in regional gas network enterprises is 1.5–2 times lower compared to neighboring countries.
According to "Franklin Templeton" analyses, the market value of the "Regional Electric Networks" company could be doubled.
It was also stated that there is potential to increase the market value of "Uzbekistan Airways" by 40 percent and that of "Uzbektelecom" by 50 percent.
