Nazarbayev has instructed to the government to create new privatization program
President of Kazakhstan Nursultan Nazarbayev ordered the government to develop new privatization program which will include all state-owned organizations.
"I instruct the Government to develop new privatization program to include all entities owned by the state, including organizations of the "Samruk-Kazyna”, "Baiterek" and "KazAgro", and after privatization all three managing holdings must be converted into small organizations", - said Nazarbayev, speaking on Monday with a message to the people of Kazakhstan.
Now, according to the President, it is important to remove restrictions on the privatization of the public sector. It is necessary to revise certain provisions of the Law on State Property and the Civil Code, reduce the list of strategic facilities that are not subject to privatization.
"Privatization should be carried at fair market value: open and competitive. Placement of shares on the stock market and public auctions should be the key mechanisms. It is necessary to create conditions for the maximum participation of local and foreign investors. I am instructing the Government to cancel the pre-emptive rights of shareholders to acquire alienated shares"- said N. Nazarbayev.