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Government summing up privatization results over 2016

by December 6, 2016 Health

The Government of Kazakhstan discusses at a regular meeting the results of privatization in the current year.

Minister of Finance Bakhyt Sultanov reports that 359 facilities 88 billion tenge worth were sold as part of Comprehensive Privatization Plan. Almost 72% of them are Samruk-Kazyna facilities.

111 facilities 9.5 billion tenge worth were sold in 2016. It is not record sum of money, but the number of facilities exceeds the last-year figure.

In addition, 193 facilities with an estimated cost of 183 billion tenge are in trading. Thus, in general, 552 facilities are tendered. According to the plan, another 62 projects will be tendered by the year-end.

It is worth noting that privatization is the ownership transformation, which is the process of selling state property into private hands.

Privatization in Kazakhstan is underway with the aim of strengthening the domestic business, reducing the state involvement in the economy, and further developing private business in the country through the transition of state assets to a more efficient owner.

Source: Government of the Republic of Kazakhstan