ASTANA, Kazakhstan, March 17. State regulation of retail prices for commodity gas in Kazakhstan now applies to all market participants, the statement of the Supreme Audit Chamber of Kazakhstan said, Trend reports.
The necessary amendments to the Entrepreneurial Code of the Republic of Kazakhstan were introduced based on recommendations from the Supreme Audit Chamber.
During a state audit of the activities of the national company Qazaq Gaz, its subsidiaries, and gas pricing processes for both domestic and external consumers, a significant legislative gap was identified.
“The auditors found that retail gas sales through gas distribution companies were not subject to state price regulation. According to the law, their operations began after January 2017. As a result, this allowed organizations to purchase commercial gas from JSC ‘Qazaq Gaz’ and sell it at inflated prices, generating income from intermediary services,” reported the Supreme Audit Chamber of the Republic of Kazakhstan.
In this regard, to ensure a unified approach, the Government of Kazakhstan was recommended to consider making corresponding changes and additions to the Entrepreneurial Code.
Consequently, the necessary amendments were made. Starting from January 1, 2025, state regulation of retail prices for commercial gas will apply to all market participants, including gas distribution companies.
The Supreme Audit Chamber of the Republic of Kazakhstan (SAC RK) is a government audit body that oversees the implementation of the budget and the effective use of public funds. Its tasks include auditing financial reports and verifying the legality and effectiveness of the use of budgetary funds and state assets.