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Kazakhstan sells 315 facilities within 2nd wave of privatization

by October 10, 2016 Key Issues

During the Government meeting chaired by Prime Minister Bakytzhan Sagintayev, Minister of Finance Bakhyt Sultanov reported that 315 facilities worth over 86 billion tenge were sold within the 2nd wave of privatization.

As of October 1, 315 facilities worth 86 billion tenge were sold within the 2nd wave of privatization. 67 facilities worth 7 billion tenge were sold in 2016; 200 facilities worth 186 billion tenge are in trading. Thus, in general, 515 facilities were set to the auction, 19 facilities were reorganized and liquidated. In order to clarify whether the incomes and taxes increase, the sold facilities prior and after privatization were analyzed, the Minister informed.

The Minister also noted that there is a positive dynamics in the privatization process.

In general, for a total of 106 facilities sold in 2015, over the 8 months of 2016 the taxes increased by 15% and the amount of mandatory pension contributions � by 1%. However, 58 enterprises have lowered taxes and pension contributions, and a general positive dynamics is formed by 37 companies, B. Sultanov said.

Source: Government of the Republic of Kazakhstan