Kazakh National Welfare Fund may adjust timing of assets sale
Baku, Azerbaijan, Feb. 20
By Elena Kosolapova - Trend:
Kazakh National Welfare Fund Samruk-Kazyna can adjust the timing of the assets sale within the framework of privatization in case of deteriorating economic conditions, the message of the Fund said Feb.20.
"There are some of the most likely scenarios of disposition of unrealized assets," said the Deputy Chairman of Samruk-Kazyna Elena Bakhmutova at a round table on the topic: "The second wave of privatization: first results of the program and its prospects in the new economic realities." "In particular, in terms of the unfavorable external and internal economic conditions, the fund may decide to postpone or adjust the timing of the assets sale. At the same time, of course, the interests of the sole shareholder in the fund represented by the government of Kazakhstan will be observed."
She said that in 2015 it is planned to sell 17 assets of the Foundation group, including such major companies as KazTransGas Aimak JSC, Alatau Zharyk Company JSC, Almaty Power Stations JSC, AlmatyEnergoSbyt LLP, TegisMunai LLP and others.
In 2014, 59 assets of 64 assets of the fund planned for sale were put to trading, timing of privatization of 5 assets was postponed to 2016. At present, 24 companies worth more than 24 billion KZT have been sold, which greatly exceeds the amount of the assessment. Also introduction of KEGOC JSC on the stock market was carried out within the framework of the People's IPO program in Kazakhstan.
During the privatization, the fund focuses on economic feasibility, and the further fate of unsold companies will also be decided on the basis of this principle, according to Bakhmutova.
The government of the Republic of Kazakhstan jointly with Samruk-Kazyna JSC has developed a comprehensive privatization plan for 2014-2016 years within the framework of the implementation of the relevant order of the president. The 2014-2020 plan comprises scheduled privatization of 106 assets and facilities of the fund.
The program is designed to reduce the state involvement in the economy and strengthen its foundations by increasing the share of the private sector in it.
Edited by CN
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