Kazakhstan, Astana, 14 October / corr Trend K.Konirova / The state fund of stable development Kazina and state holding Samruk merged into the fund of national welfare Samruk-Kazina, Nursultan Nazarbayev, the Kazakhstan president, said at an enlarged meeting of government.
"I signed a decree on merger of two largest state holdings - Kazina and Samruk and establishment of the fund of national welfare Samruk-Kazin on their base to unite all state assets," the head of state said.
"The board of directors of the new fund will be headed by prime minister Karim Masimov," the President said.
The head of state charged the government to hand in state packages of shares of Kazatomproma, the Eurasian Natural Resources Corporation (ENRC), Kazakhmisa, the Kazakhstan mortgage company, the Kazakhstan Guarantee Fund for Mortgage Loan and Jilstroysberbank to the new holding during a month.
"It is necessary to hand in seven social and enterprise corporations to the new holding for intensification of its activities," the President said. In addition, the President told about allocation of 5$bln to capitalization of Samruk-Kazin.
"I decided to allocate $5bln from $10 bln, which is allocated from the National fund within the frames of stabilization program, to capitalization of the new holding," Nazarbayev said.
In January 2006, Joint -Stock Company Kazakhstan Holding on Management of State Assets Samruk was established by the decree of the head of country, state shares of a number of Kazakhstan largest companies were passed in its ownership.
Kazina state fund, which was established in March 2006, is managing company, aimed at diversification of Kazakhstan economy by coordinating activities of national institutions of development within the frames of strategy of industrial and innovation development of Kazakhstan, which is intended for period to 2015.
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