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Kazakhstan to transfer 325 objects to a competitive environment in 2017

by April 10, 2017 Legal

Since 2016, according to the Comprehensive Privatization Plan, 198 objects have been sold for 51 billion tenge, including 18 objects of republican ownership for 7 billion tenge, 95 objects of municipal property for 5 billion tenge, 85 objects of quasi-public sector for 39 billion tenge. The implementation of the Comprehensive Privatization Plan, taking into account the reorganized and liquidated facilities, is 47%.

In the implementation of the instruction of the Head of State in 2017, 325 objects are planned for sale, including 30 objects of republican ownership, 177 objects of municipal property, 67 objects of National Holding companies and 51 objects of SEC. In 2018, 61 objects are to be sold.

“In 2017, it is planned to sell 29 top facilities, including 20 – NWF Samruk-Kazyna JSC, 1 – JSC National Managing Holding Baiterek and 8 top facilities of the republic’s property. In 2018, 21 top-management facilities will be implemented. 1 of them is municipal property, 10 – Samruk-Kazyna National Welfare Fund, 3 – Baiterek JSC, 3 – National Managing Holding KazAgro JSC and 4 – republican property,” B. Sultanov said.

The implementation of 18 largest companies of Samruk-Kazyna is scheduled for 2019-2020. 8 top companies of them are the part of IPO / SPO.

“Additionally, amendments have been made to the Rules for the Sale of Privatization Objects. On the basis of the results of the conducted auctions it will allow to conclude electronic contracts with buyers using digital signatures. This will facilitate the procedure for concluding sales contracts and exclude unnecessary contact with the seller,” B. Sultanov concluded.

It should be reminded that in the Message to the People of Kazakhstan “Third Modernization of Kazakhstan: Global Competitiveness”, the Government was instructed to accelerate and complete the privatization of organizations under the Comprehensive Plan by the end of 2018.

Source: The Prime Minister of Kazakhstan