MP: Less than 0.5 per cent of economically active population participated in Kazakhstan’s People's IPO program
Kazakhstan, Astana, October 2/ Trend D.Mukhtarov /
Only some 0.37 per cent of Kazakhstan's economically active population participated in People's IPO program in the country, Kazakh MP Aikyn Konurov said on Wednesday.
"Only 0.37 per cent of the economically active population participated in the program in spite of such a large-scale advertising and support," he said speaking at the plenary meeting of the Parliament's Lower Chamber with a deputy request to Kazakhstan's Prime Minister.
The MP recalled that according to the president's decree a People's IPO program was adopted in September 2011. And from the very beginning of its implementation it was declared that the program offers the country's citizens opportunity to become co-owners of the largest state companies.
"The first sign of the program was the sale of shares of "KazTransOil" JSC. Some 28 billion tenge ($ 1 - 153 tenge) was attracted for the development and dividends in the amount of 28.8 billion tenge were paid immediately, which amounts to over 85 per cent of the enterprise's income," Konurov said.
According to him, such a scheme reminds an advertising campaign rather than a real replacement of funds for the enterprise's development.
"According to broker companies, the majority of shareholders of " KazTransOil "prefer to send dividends to bank accounts," the MP said.
In this regard, Konurov appealed to the government of Kazakhstan with a request to clarify the situation with the further implementation of People's IPO state program.
"Which economic effect is achieved from the sale of shares of " KazTransOil" JSC ? Which international and domestic consultants were involved in the working group for further promotion of the People's IPO? What are their plans for the determination of the volume of payments from the companies' net profit? What is the budget of the People's IPO program?" according to the MP, these questions should be clarified in a short time.