President Tokayev warns of further tariff increases in Kazakhstan

According to President Kassym-Jomart Tokayev, Kazakhstanis will continue to see rising utility and motor fuel prices. During a cabinet meeting, he emphasized that the country should eliminate the tariff imbalance with other CIS countries, where electricity and gasoline costs are significantly higher.

«The cabinet should continue implementing its new tariff policy. Tariffs must align with the market; otherwise, the reliable supply of electricity, water and heat could be at risk,» Tokayev stated.

He pointed out that almost all CIS countries impose higher tariffs on electricity, natural gas and oil products than Kazakhstan.

«This situation has caused an imbalance in our economy. This is the reality and we should not hide it from the people. Everyone knows that our fuel is being smuggled into neighboring countries due to the price gap, creating fertile ground for illegal activities,» Tokayev underlined.

In mid-January, Kazakhstan’s Ministry of Energy prepared a draft regulation to lift gasoline and diesel fuel price caps for local drivers. At the same time, the agency assured that it would prevent a sharp increase in fuel prices.