Kazakhstan plans to sell over 1,000 state-owned facilities

Business Materials 25 July 2016 16:37 (UTC +04:00)

Baku, Azerbaijan, July 25

By Elena Kosolapova - Trend:

Kazakhstan plans to sell over 1,005 state-owned objects and facilities to private owners within the privatization plan for 2014-2020, Kazakh finance ministry reported.

According to the ministry, in June 2014- July 2016 it was planned to sell 509 state-owned objects, but only 482 ones were offered for privatization and 287 of them were sold in this period.

Kazakh state budget got 6.99 billion tenge (341 tenge = $1) from privatization deals reached in this period, the regional budgets – 4.67 billion tenge, National Holdings – 67.42 billion tenge, and the socio-entrepreneurial corporations – 3.72 billion tenge.

The privatization program was initiated by Kazakh President Nursultan Nazarbayev.

Within the privatization plan Kazakhstan will transfer to the competitive environment such large state-owned companies as Kazakhstan Temir Zholy company (Kazakh railways), KazMunaiGaz oil and gas company, Kazatomprom nuclear company, Samruk-Energy company, Tau-Ken Samruk mining company, Kazpost, Air Astana airlines, Kazgeology, Kazmortransflot National Maritime Shipping Company, Atyrau refinery, Pavlodar Petrochemical Plant, PetroKazakhstan Oil Products (Shymkent refinery), etc.

Edited by SI

Follow the author on Twitter: @E_Kosolapova