Illegally privatized railway facilities to return to Kazakhstan's ownership

Kazakhstan Materials 8 August 2023 16:54 (UTC +04:00)
Madina Usmanova
Madina Usmanova
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ASTANA, Kazakhstan, August 8. A number of important objects in the field of railway transport are returning to the ownership of Kazakhstan, the press service of the Prime Minister of Kazakhstan said, Trend reports.

The transaction involving the transfer of these objects to a competitive environment was found illegal by the court.

The government was briefed on the present status of the return of these objects at a conference devoted to issues of economic demonopolization. Cases of misappropriation of received property have been identified. The investigation authorities confiscated these assets and temporarily transferred "Kazakhstan Temir Zholy" management until the final procedural judgment.

Kazakhstan's Prime Minister, Alikhan Smailov, has been directed to expedite the return of similar facilities in other parts of the nation.

Furthermore, a privately owned healthcare company can return to republican ownership. According to preliminary data, the private firm to which the administration of this asset was transferred has not fulfilled its commitments in line with the principal operations for an extended period of time, therefore breaking the terms of the investment program.

The Kazakhstani government stated that an interdepartmental committee will be formed, the results of which will be used to make a final judgment on the feasibility of terminating the contract and returning assets to state ownership.