Public Enterprises Proclamation No. 25/1992.

This Proclamation establishes the legal framework for the organization, management, and operation of public enterprises. It aims to grant management autonomy to state-owned enterprises to enhance efficiency, productivity, and competitiveness, while maintaining state ownership rights through designated supervising authorities. The law provides for the creation of management boards, appointment of general managers, and detailed governance structures to ensure accountability and performance. It also sets rules for capital allocation, reserve funds, auditing, and dividend payments to the state. Provisions cover establishment requirements, legal personality, liability, and operational capacity of enterprises, including rights to contract, borrow, and invest. The proclamation repeals previous laws governing public enterprises and introduces mechanisms for amalgamation, division, and dissolution, including liquidation procedures and creditor protection. It further outlines powers of the Council of Ministers regarding enterprise establishment, restructuring, and sale, ensuring alignment with national economic objectives