Nazarbaev criticizes the government in his speech at the parliament

/Almaty office of REUTERS, Sept.01, 99/ - The head of Kazakhstan Nursultan Nazarbaev criticized the government, the National Bank and country's financial sector in his annual speech at the opening of parliament's fall session today. "It should be pointed out that all losses we incurred last year would be far less if the government did not make some mistakes and miscalculations", he said. Nazarbaev believes the government were not taking appropriate actions to implement the liberalization of the currency market, to carry out pension reform and to protect domestic market. "First, tactical mistakes of the government and the National Bank are obvious with respect to adoption of free-floating exchange rate and adequate re- financing rate of the National Bank". "Second, implementation of pension reform should've been postponed before oncoming crisis or its parameters should've been changed. But the government's adequate decision was not considered and it worsened the situation". "Third, attempt to close the borders for cheap imported goods did not and could not prove to be good. Fourth, some erratic measures, aimed at changing the situation, were not well-thought and worked off", - said Nazarbaev. As he says the peak of the crisis is behind. In June-August growth of industrial output made 5.5 percent. Rich harvest is expected, tax collection is getting better. Particularly, as Nazarbaev says, in last three months - form June to August, amount of tax collected exceeded 30 bln tenge against 18 bln tenge in the first quarter of 1999. "Past crisis did not affect the country's financial sector much. The banking sector did not feel a significant shock. And it is good. But why did not the financial sector render adequate help to our economy?", - asked Nazarbaev. The president of Kazakhstan said, while enumerating tasks of the government, Cabinet should have moved away from raw material oriented economy, and should have developed the infrastructure. Nazarbaev says investments will be attracted to chemical and oil and gas industries. In particular, to reconstruct Atyrau oil processing plant (the oldest among three oil processing plants in Kazakhstan). The head of Kazakhstan mentioned again the construction of polypropylene pipe producing and gas processing plants.