Kazakhstan has approved the privatization of 65 large companies

​The Government of Kazakhstan has approved the privatization of 65 large companies in the metallurgical, oil and gas, telecommunications, railway and aviation sectors for 2016-2020, the Ministry of Economy reports.

Kazakhstan, that faces the revenue fall due to the low oil prices, on the results of realization of the privatization plans to reduce the stake of the quasi-public sector by 15%.

7 companies with the Government participation will hold an IPO. Among them are Kazzinc, KMG, Kazpochta, Air Astana, Kazakhstan Temir Zholy.

Kazakhstan has seriously suffered from the fall of oil price and devaluation of currencies of Russia and China, its main trade partners. In 2014 the growth of the country’s economy slowed down to 4.3% against 6% in 2013.