28 June 2017

Privatization revenues to go to National Fund - Timur Suleimenov

According to the Minister of National Economy Timur Suleimenov, revenues from privatization of state entities will go not to the budget, but to the National Fund, Kazinform correspondent reports.

Minister added that these revenues will become an additional source of the National Fund replenishment.

Timur Suleimenov noted that revenues from the planned privatization of state entities are not expected to be very large and could to name the exact figure, saying it would be only a few billion.

"Currently, within the privatization program in 2017, we plan to sell 496 organizations, and in 2018 it will be 89 organizations. On a regular basis, the sale of large companies is considered at the meetings of the State Commission on the Modernization of the Economy of the Republic of Kazakhstan," he said.

Mr. Suleimenov added that it is planned to carry out an IPO/SPO of at least 8 major national companies. They are Air Astana, Kazatomprom, Kazakhtelecom, KazMunayGas, Kazpost, Samruk-Energo, Kazakhstan Temir Zholy, Tau-Ken Samruk.

"Astana International Financial Center is considered as the priority site for the IPOs/SPOs. Their launch is planned from 2018, due to the need for preparatory work, measures to optimize and transform holdings," explained Timur Suleimenov.

Source: http://lenta.inform.kz