Governor of the Central Bank Mamarizo Nurmuratov at a press conference on January 20 commented on the government's plans to liberalize energy prices in Uzbekistan.

As reported in November, the government’s budget stipulated that tariffs (for electricity, gas, hot water and heat supply, cold water and sewerage) in 2022 are planned to be indexed, that is, increased.

Based on the calculations of the Accounts Chamber, tariffs for energy resources and utilities may increase by an average of 27%. In particular, the price of electricity may increase by 33%, gas - by 21%, hot water and heating - by 20%, cold water and sewerage - by 34%.

“The liberalization of energy prices is on the table. The government is working on various options. Of course, we must go through this. This needs to be understood correctly,” said Mamarizo Nurmuratov.

He called it wrong to compare the situation with the increase in prices for liquefied gas in Kazakhstan, which led to protests and riots, with the situation in Uzbekistan.

“Each country determines this situation based on its economic conditions, economic potential, economic reforms. Therefore, this issue is on the agenda as one element of our economic reforms. This will be implemented in the future,” he said.

The government planned to raise electricity and gas tariffs in February-March 2020, but postponed this measure due to the coronavirus pandemic. The Central Bank, in the main scenario for the development of the economy, expected that regulated prices (for energy, utilities, and others) would be fully liberalized in 2022 or in stages in 2022-2023 as per the worse scenario.