State-owned companies seem to be working on the economic model of socialism. This is unbearable. Therefore, very serious steps must be taken in this direction. I instruct you that the work of state-owned companies should be seriously inspected and a new management system should be established. It can't go on like this. This lack of control cannot continue.

Axar.az reports that, the statement came from Azerbaijani President Ilham Aliyev during his speech at today's meeting.

The President criticized the inefficiency and profitability of state-owned companies, and then said:

"Relevant agencies have already prepared the necessary package of proposals. I was also initially presented. I supported it. I instruct the government to submit the necessary documents related to the new management system of state-owned companies in the coming days and I will sign them."