Kazakh National Welfare Fund to get rid of non-specialised assets
Azerbaijan, Baku, Jan. 25 / Trend E. Kosolapova/
The Kazakh National Welfare Fund Samruk-Kazyna will get rid of the non-specialised assets of its affiliated companies, Fund's head Umirzak Shukeyev told journalists on Wednesday, Novosti-Kazakhstan reported.
"Some of the National Company's external assets are dragging them down," Mr Shukeev said. He went on to say a board has been created which will examine all the Samruk-Kazyna's companies to determine unnecessary areas.
"We will sell non-specialised assets depending on market conditions and the social consequences," Mr Shukeev said.
National Welfare Fund Samruk-Kazyna is a joint stock company in Kazakhstan, which owns, in whole or in part, many important companies in the country. The state is the only shareholder of the Fund. Samruk-Kazyna controls assets worth $78 billion, or nearly 56 per cent of Kazakh GDP.