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Government adopts the Roadmap for the implementation of the Five Social Initiatives of the President of the Republic of Kazakhstan

by March 13, 2018 Legal

The draft Roadmap for the implementation of the President’s Five Social Initiatives was reviewed and adopted in the course of today’s Government meeting chaired by Prime Minister Bakytzhan Sagintayev. The document was presented by Minister of National Economy Timur Suleimenov.

The roadmap was developed jointly with concerned state agencies and the National Bank. The document consists of 35 actions and provides for the development of drafts of 7 laws, 6 draft Government resolutions, and 3 draft resolutions of the Board of the National Bank, as well as the adoption of 2 ministerial orders and 4 decrees of Akimats.

With regards to the first direction New opportunities for every family to afford housing, the main executor is the National Bank of the Republic of Kazakhstan.

The National Bank intends to use the most successful experience of the past years and launch the 7-20-25 Program on the terms set by the Head of State: at 7% per annum, for 25 years, with an initial contribution of 20%.

The stages of preparation for the implementation of the program are determined. In the near future, the Board of the National Bank will consider the issue of creating a special wholly-owned subsidiary company – the operator of the Program. The National Bank will submit the necessary legislative amendments to the Government in March.

Any citizen of Kazakhstan who has an official income is eligible to take part in the program. The criteria are now being worked out with banks. For example, with a housing value of 7 million tenge, the monthly payment is no more than 50 thousand tenge, which is generally affordable for the majority of working people in Kazakhstan. The differentiation of the cost of housing in large cities and regions is not ruled out, as the cost of housing is different.

According to the Ministry of National Economy, the first housing loan for the new mortgage program is planned to be issued approximately in August this year.

The main executor of the second direction Reducing the tax burden to increase the wages of low-paid workers is the Ministry of National Economy. Within the framework of this direction, it is planned to work out proposals on changing the norms of tax legislation.

The Ministry of Education and Science is entrusted with the implementation of the third direction Improving the accessibility and quality of higher education and improving the living conditions of student youth. Within its framework, it is planned to increase state orders for education with an emphasis on technical specialties. It is planned to determine mechanisms and develop legislative amendments on the construction of dormitories on the principles of public-private partnership.

The Ministry of Labor and Social Protection of Population is responsible for the fourth direction Expansion of microlending. In this regard, it is planned to make adjustments to the Productive Employment and Mass Entrepreneurship Development Program for 2017-2021. The changes will be aimed at increasing funding for microlending in cities and rural areas and promoting entrepreneurship.

The main executor of the fifth direction Further development of the country’s gas infrastructure is the Ministry of Energy. This direction is concentrated on the construction of the first stage of the Saryarka main gas pipeline. Work is underway to determine the schemes and conditions for financing the project. It is planned to attract funds from international financial organizations like EBRD, EDB and others. The project is scheduled for launch in July this year. The completion of the construction of the gas pipeline is planned in December 2019.

Chairman of the National Bank of the Republic of Kazakhstan D. Akishev, Minister of Investments and Development Zh. Kassymbek, Minister of Education and Science Y. Sagadiyev, Minister of Labor and Social Protection M. Abylkassymova, Minister of Energy K. Bozumbaev also reported on planned activities of the Roadmap for the implementation of the Five Social initiatives of the President.

Following the discussion, the Prime Minister instructed to develop all the necessary legislative amendments before the end of March this year for submission to the Parliament of the Republic of Kazakhstan.

Recall, on March 5, the Head of State announced Five Social Initiatives. At the March 6 Government meeting, Bakytzhan Sagintayev instructed the Ministry of National Economy together with state agencies and the National Bank to develop a detailed Roadmap for the implementation of initiatives announced by the Head of State.

Source: Government of the Republic of Kazakhstan