President Kassym-Jomart Tokayev of Kazakhstan believes that the work of Samruk-Kazyna, the National Welfare Fund has to be deeply transformed, according to Berik Uali, the president’s official spokesperson.
According to the president, the excessive role of the government in the national economy should be reduced. To achieve this, Tokayev suggests intensifying the process of privatization of the Samruk-Kazyna assets.
“The transparency of the privatization process is crucial because it is going to be the basis for further transformation of the economy.
Now, the president is waiting for detailed proposals from the government and the State Commission on Privatization,” Uali wrote on Facebook.
In particular, President Tokayev believes that the government has to cut off the excessive management bureaucracy in the fund. Moreover, the government must reconsider its relations with Samruk-Kazyna to allow the fund’s revenue to be spent on the interests of the state and its people.