Ministry of Finance of Kazakhstan is waiting for dividend growth on state blocks in 2001

/IRBIS, June 20, 01/ - REUTERS informs that the Ministry of Finance of Kazakhstan expects dividend growth on state block of shares in 2001, at KZT2.660bn. PR department of the ministry informs that as of June 1, 2001, KZT1.535bn has been already received by national budget as dividends, or 57.7% of planned amount. It is also said that KZT3.96bn has been accrued in dividends on state block of 25.12% shares in CNPC-Aktobemunaigas oil company and this amount should be paid to the budget. There are 291 joint stock companies in the country, where the government has its stake, and it received KZT1.169bn as 1999 dividends last year, is said. The ministry also said that budget allocations from net incomes of national companies, where the government has 100% stake, had been increased. In addition, it is said that last year a little more than KZT55m was transferred to the budget, while the rest of net income was used on the state companies' own needs upon the government's approval. Budget 2001 provides for the increase in net revenues of the budget received from national companies up to KZT390m. This amount can be increased by considering the needs of the companies in production development and renewal of fixed assets, is said. In order to avoid the disagreement in budget allocations from net incomes of national companies, the government developed a draft resolution on the minimal budgetary allocations depending on the types of activities of the state companies, was added. A joint commission of the parliament and the government was created and it decided to improve the control over the state property in order to increase the management effectiveness, informs the PR department of the Ministry of Finance.