95% of collective farm property privatized

95.2% of collective farms’ property had been privatized as of April 2001, as 777,600 people have become property owners, according to the agrarian reforms commission under the Cabinet of Ministers.

The value of the privatized property constituted AZM789.8 billion. Besides, AZM172.7 billion worth of property of reformed farms will retain in state hands, while AZM602.9 billion worth of it transferred to municipalities.*