BAKU, Azerbaijan, Jan. 6
Trend:
The restoration of the work of banks and financial organizations in Kazakhstan will be ensured, Trend reports referring to the president’s press service.
According to the press service, President Kassym-Jomart Tokayev gave the relevant instructions to the government.
The National Bank and the Agency of of Kazakhstan for the Regulation and Development of the Financial Market (ARFM) were instructed to ensure the restoration of a stable and continuous operation of second-tier banks and other financial organizations after stabilization of the situation.
Kazakhstan's government announced late Jan. 4 that it was restoring some price caps on liquefied petroleum gas, after the rare protests reached Almaty following a sharp rise in the price of the fuel at the start of the year.
Many Kazakhs have converted their cars to run on LPG, which is far cheaper than gasoline as a vehicle fuel in Kazakhstan because of price caps. But the government argued that the low price was unsustainable and lifted the caps on Jan. 1.
After the price of the fuel spiked, big demonstrations erupted on Jan. 2 in certain parts of the country. Public protests are illegal in the country unless their organizers file a notice in advance. Following the development of the situation, the government declared a state of emergency all over the country.