Kazakhstan Gets Over $20m From Privatization Program

Kazakhstan Gets Over $20m From Privatization ProgramKazWorld.info – Kazakh state budget got 6.99 billion tenges ($20.6 million) from the deals reached within the 2014-2016 privatization program as of September 20, Kazakh Finance ministry reported.

The regional budgets received 4.83 billion tenges (339.4 tenges = $1) from the sale of its assets to private investors in this period, national holdings got 68.06 billion tenges, the socio-entrepreneurial corporations received 6.3 billion tenges.

As much as 310 state-owned objects and facilities have been privatized in Kazakhstan as of Sept. 20.

Kazakhstan plans to sell 1,008 state-owned objects and facilities to private owners within the privatization plan for 2014-2020, Kazakh finance ministry said previously.

Kazakhstan’s privatization program will reduce the state participation in the economy to 15 percent, which is the level set for countries of the Organization for Economic Cooperation and Development (OECD).

The privatization program was initiated by Kazakh President Nursultan Nazarbayev. Within the privatization plan, Kazakhstan will transfer such large state-owned companies as Kazakhstan Railways, KazMunaiGas, Kazatomprom, Samruk-Energy, Tau-Ken Samruk, Kazpost, Air Astana, Kazgeology, Kazmortransflot National Maritime Shipping Company, Atyrau Refinery, Pavlodar Petrochemical Plant, and PetroKazakhstan Oil Products to a competitive environment.