Kazakhstan to take measures for privatization of Samruk-Kazyna Fund's assets

Kazakhstan 17 January 2022 16:40 (UTC +04:00)
Kazakhstan to take measures for privatization of Samruk-Kazyna Fund's assets

BAKU, Azerbaijan, Jan. 17


Measures will be taken in Kazakhstan to boost the privatization of the Samruk-Kazyna Fund’s assets, Berik Uali, spokesperson for the country’s president said on Facebook, Trend reports on Jan. 17 citing his respective publication.

According to Uali, at the plenary session of the Majilis [lower house of the Parliament], President Kassym-Jomart Tokayev stated the need for a profound transformation of the Samruk-Kazyna Fund.

"Portfolio companies of the fund are system-forming for the national economy. Therefore, the decision for the task of structural restructuring of the economy and the direction of resources for the benefit of the people depends namely on the fund," Uali noted.

"The president believes that the government will be the first to deal with the reduction of the cumbersome management superstructure. It’s also necessary to change the nature of relations between Samruk-Kazyna and the government in order to increase the direction of revenues in the interests of the state and the people," the spokesperson also said.

Besides, he pointed out that President Tokayev demanded from the government to ensure the formation of a real competitive environment in key sectors of the economy and transparency of fund purchases and national companies.

"According to the head of state, it’s necessary to reduce the excessive presence of the state in the economy and intensify the privatization of the assets of the Samruk-Kazyna Fund for this purpose," Uali said.

"At the same time, it’s important to achieve transparency in privatization, without which the structural transformation of the economy is impossible. The president expects specific proposals and actions from the government and State Commission on Privatization," added the spokesperson.