Finance Ministry: Privatization of Two National Companies Is Inexpedient
/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
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.