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Top state facilities privatization to be constantly controlled by the Government

by December 6, 2016 Health

Government of Kazakhstan discusses at the regular meeting the Plan for Privatization of the Top State Facilities for 2016-2020.

Minister of Finance Bakhyt Sultanov reports that the legislation provides for a separate procedure for the privatization of top state-owned facilities.

The Ministry of Finance has thuswise formed a working group (project office) composed of representatives of concerned state bodies, Atameken NCE.

The working group has held 8 meetings thus far, where reviewed all 12 top facilities and elaborated the proposals on 9 facilities privatization, proposals on the 5 facilities have been approved.

Launch of top facilities selling is scheduled for 2017 with independent consultants involved for the evaluation of market value and support for the transaction on each facility.

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