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67 objects 7 billion tenge worth privatized in Kazakhstan this year

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by October 25, 2016 Business

Minister of Finance Bakhyt Sultanov reported at the Governments meeting on the measures aimed at promoting competition and attracting capital into the economy.

According to the Minister, the provisions of new law on public procurement have created conditions for competition development. There are 5 participants in general for 1 competition nowadays. 20,000 customers and over 90,000 suppliers have registered over the 9 months.

Priority of state audit for this year is the protection of bona fide suppliers. Over the 9 months of 2016 there were identified incorrectly announced public procurement in the amount of 375 billion tenge � all of them have been already fixed and the equal access is provided, B. Sultanov informed.

According to the Finance Minister, 67 objects 7 billion tenge worth have been privatized this year, thus the total number is 324 objects 86.6 billion tenge worth. The works have been performed on inventory auditing of subordinate organizations. The list of enterprises to be privatized will be expanded consequently.

The legalization is proceeding to completion, and monthly average amount of money has increased by nearly 40 times only over the 3rd quarter (250 billion tenge compared to 6.3 billion tenge).

There has been in total legalized 2.7 trillion tenge as of October, including 1.8 trillion tenge in money. These are the main financial results. All measures taken during the execution of the budget have supported the economic growth, the Minister added.

Source: Government of the Republic of Kazakhstan

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