NC Kazakhstan temir zholy CJSC works over the program of railway branch restructuring

/Kazakhstan today,May 14 02/ - NC Kazakhstan temir zholy CJSC works over specifying of the restructuring of railway branch program. The president of Kazakhstan temir zholy Erlan Atamkulov informed about it at the press- conference in Astana on Monday, May 13. According to his words the work is being carried out on the government's instruction and is to be submitted for consideration of the ministry before October 1, 2002. E. Atamkulov believes that the first stages of restructuring began to "break" the branch and that it will cause the company' expenses increasing and irreversible juridical and legal aspects. Atamkulov said that excessive "breaking" causes anxiety as the management efficiency and scheme integrating disappears and the power weakens that should not be allowed on railways. In accordance with this "we" (the company's new governing body) from the very beginning considered some programs of restructuring a bit hasty - said the company's president. According to the specified program of the railway branch restructuring 4 stages (there are 3 stages in the old program) of realization were provided. The terms of realization are 7-8 years (before the terms were 4-4.5 years). In Atamkulov's opinion such branch as railways must not be restructuredin haste. The first stage of the program that was to be completed in the first quarter of 2003 in accordance with the terms planned before was prolonged till the end of 2003 - middle of 2004 - said the company's president. During the first stage it is necessary to determine what the monopolistic sector will comprise and no object that will be inside this sector can be privatized - E. Atamkulov accentuated. The company's governing body intends to be very prudent about the restructuring stages discussing them with ministries, departments and railways old stagers. Besides, it's been decided that the owners of the company's released enterprises will be their collectives - Atamkulov announced. He also said that 3o% of share holding will be gratuitously given to the people who work at the enterprises. All loans for companies will be attracted against security and control of NC Kazakhstan temir zholy CJSC. [2002-05-14]