Privatization process of Kazakhstan's Samruk Kazyna postponed

Finance Materials 10 June 2020 14:48 (UTC +04:00)
Privatization process of Kazakhstan's Samruk Kazyna postponed

BAKU, Azerbaijan, Jun. 10

By Nargiz Sadikhova – Trend:

The date for transferring a number of strategic assets of Kazakhstan’s Samruk Kazyna Sovereign Wealth Fund to the competitive environment was moved to 2021-2023, Trend reports with reference to the press office of Kazakhstan’s prime minister.

The topic on privatization of Samruk Kazyna assets was discussed during a meeting of Kazakhstan’s State Commission for Economy Modernization chaired by Kazakhstan’s Prime Minister Askar Mamin.

The meeting participants noted that the Comprehensive Privatization Plan for 2016-2020 includes 167 assets of Samruk-Kazyna, 138 of which have been privatized as of now. The remaining 21 more companies is in the process of implementation and liquidation or reorganization.

“Due to the high volatility at the international capital markets, lower energy prices and a slowdown in the world economy, the deadlines for transferring a number of strategic assets to the competitive environment were postponed till 2021-2023,” the report said.

These companies are KazMunayGas, Air Astana, Tau-Ken Samruk, Qazaq Air, Samruk Energo, Kazakhstan Temir Zholy (Kazakhstan Railways) and so on.

Samruk-Kazyna Sovereign Wealth Fund Joint Stock Company is the fund, the sole shareholder of which is the Kazakhstan's government.

Following the Presidential Decree in 2008, the fund was established as a business corporation — an investment holding, whose Mission is to improve the national welfare of Kazakhstan and to support the modernization of the national economy.


Follow the author on twitter: @nargiz_sadikh