Kazakhstan intends cut out twice the privatization receipts plan

/IRBIS, Oct 16, 00/ - REUTERS informs that the Ministry of Finance of Kazakhstan (MOF) intends to correct the plan of privatization receipts. The revenues from the sale of state property will be shrunk twice. Previously, Kazakhstan has planned to collect KZT60 bln ($500 mln) in privatization revenues for year 2000. In the adjusted budget-2000 this figure decreased by KZT37 bln. The next year preliminary plan is KZT38 bln. Kazakhstan has long matured the idea of "blue chips" privatization program. Its framework included the sale of state stakes in major oil and metallurgical companies through the Exchange market. Nowadays it shall be realized through the sale to strategic investors. Thus there is rather a program of individual privatization projects than "blue chips" framework. There are nine companies that will go on sale including: Aktobemunaigas, Ust-Kamenogrosk titano-magnesium plant, Kazzink, Kazakhmys. Previously this year the government excluded these companies from privatization list. Kazakhmys state block of 35% was transferred to trust management for three years in exchange for $100 mln loan to the budget. Today the government returns the loan ahead of schedule and it intends to sale state block in the next year.