МPМR and KMG have to complete KMG development plan

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14:50 14.05.2004
text: "Kazakhstan Today"
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The tenth sessions of the Republic Budget Commission was held under the chairmanship of the prime minister Danial Akhmetov today in Astana. It was reported by the press service of the Ministry of Economy and Budget Planning of RK.

The Commission considered the plan of KazMunaiGas strategy for 2004-2006. The main direction of the investment projects of KazMunaiGas are the reconstruction of Atyrau Refinery, modernization of trunk "Central Asia - Center" gas pipelines, further financing of Amangeldinsk deposit and active participation in Caspian shelf program.

The following issues have been considered at a session: forming borrowing strategy of the company, method and mechanism of dividends imposing on state share holding, expediency of investment projects.

According to the prime minister the reorganization program dose not correspond to the world standards. "The company structure optimization should be considered more seriously, " he added.

It was also noted that the proper attention was not paid to the some remarks started at a first session such as tariff and dividend policy, expedient of some investment projects.

The Ministry of Power and Mineral Resources together with KazMunaiGas were entrusted to complete the development plan in the period of two weeks and to submit it to the government consideration.

The administrators of the Republic Budget Programs suggested the changes and amendments for the approved Republic Budget Programs 2004. "The amendments and changes which are under consideration of the parliament contain projects and tasks which were noted by the president in his speech to the people of Kazakhstan," the prime minister stressed.

Translated by Nataliya Shirinskikh