Astana, Kazakhstan, Nov. 6
Daniyar Mukhtarov - Trend: Until late 2013, development institutions' staff and part of Kazakhstan's Baiterek National Managing Holding will be reduced by five per cent, JSC press service said on Wednesday.
"We are not talking about some massive staff reduction, or an effort to adjust for the sake of optimisation. After the transfer of these organisations to the holding company, an analysis of personnel was carried out.
"Staff positions that are appropriate to reduce were identified. In the next year we will continue measures to optimise costs of the subsidiaries. Our challenge is to improve the effectiveness of development institutions. We are addressing this challenge now," head of Staff of Baiterek National Managing Holding Erlan Aitaliyev whose words were cited in the statement, said.
Baiterek National Managing Holding was established in accordance with the decree of the Kazakh President as of May 22, 2013. The purpose of establishing the holding is to promote the development and diversification of the economy, to attract investments, to improve the corporate governance system in its subsidiaries. The holding's trust management includes such state financial institutions as "Development Bank of Kazakhstan", "DAMU" Entrepreneurship Development Fund", "Investment Fund of Kazakhstan", "Kazyna Capital Management", "Kazakhstan Mortgage Company", etc.