Finance Ministry: Privatization of Two National Companies Is Inexpedient

11.04.01 00:00
/IRBIS, Apr 11, 01/ - According to Globe, early this week, the Finance Ministry sent a letter to the government. It is said in the letter that the privatization of state shareholdings of national companies KazTransOil and Kazatomprom is inexpedient. On Monday Interfax-Kazakhstan reported that the letter had been sent in connection with the inquiry by the National Commission for Securities. Minister Mazhit Yesenbayev stressed that according to the governmental decree dated Oct. 24, 2000, both companies were referred to the state property, in which state shareholdings were not subject to privatization until 2003, according to the data of the agency. Besides, the indicative plan on development of KazTransOil for 2000-2005, which was approved by the governmental decree dated August 12, 2000, does not provide the privatization either. The Minister also said that the privatization of the oil transporting company would negatively affect the profit part of the republican budget, as the state shareholding provided stable dividends. Kazatomprom, in its turn, will to receive dividends from 2003. Mazhit Yesenbayev said that the Ministry of Energy and Mineral Resources, Ministry of Economy and Trade as well as the Ministry of Justice on the whole shared the Finance Ministry's opinion.