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Some state assets to be sold to population after financial markets are stable - premier
Astana, September 30, 2008
Some state assets of Kazakhstan will be sold to the population through IPO after the situation on the financial markets becomes stable, said Prime Minister Karim Masimov.
"We need to develop our domestic market. (...) We shall be doing so after the situation (on the financial markets - Interfax-Kazakhstan) becomes stable. We mean holding IPOs to sell state assets to the population," he told a Tuesday round-table conference with businessmen in Astana.
"We have a special program: part of the Kazakh national assets will be sold to the population. Such an IPO will allow the notes to be quoted on the stock market," Masimov stressed.
Besides, he believes, the government succeeded in diminishing the size of the bubble which has swollen in the real estate sector. "I am sure we shall resolve the problem with the help of the distressed assets fund we are going to organize," Masimov said.
As reported, in July the prime minister told the ministers of finance, economics and budget planning, the heads of the National Bank and the State Financial Supervisory Agency to look into a possibility of organizing a distressed assets fund.