Massimov sets out rationale for Kazakh privatisation program

Karim Massimov, Kazakhstan’s Prime Minister, today told a plenary session of the country’s Majilis  that the second wave of privatisation now under way would help improve the economic management of the assets  being put up for auction.
“Privatisation it is not an end in itself, because there are economies that exist successfully with full state ownership, and there are fully privatised ones that are unsuccessful, too,” he said. “So the main thing…is to improve the efficiency of economic activity.”
Kazakhstan’s sovereign wealth fund Samruk-Kazyna is co-ordinating Kazakhstan’s ‘People’s IPO’, with a total of 278 companies due to be privatised this year.