Kazakhstan, Astana, Nov. 20 / D. Mukhtarov/
The Kazakh National Welfare Fund Samruk-Kazyna is taking steps to reduce expenses, the managing director and Samruk-Kazyna board member Nurlan Rakhmetov told journalists on Tuesday.
"We have attracted international consultants with world experience to solve the problem professionally. Based on the results of the analysis, they will offer specific steps for the next three years on the optimisation of expenses by the end of year and a three-year programme to reduce expenses will be approved for each company," Rakhmetov said.
He went on to say that at the same time, the payment for consultancy services will depend directly on the achievement of a real economic effect
Measures to reduce expenses of the fund companies are already giving results, Rakhmetov said.
"In particular, this year the number of administrative personnel in the fund's group was reduced by 2000 and general administrative costs by 6.2 billion tenge (150.46 tenge=$1)," Rakhmetov said.
In particular, thanks to the analysis of business processes, Kazakhtelecom JSC has reduced its expenses by 1.3 billion tenge in the current year.
A similar programme was initiated in 11 companies: KazMunaiGas, Kazakhstan Railways, Kazatomprom, Kazakhstan Engineering, Samruk-Energo, KEGOC, Kazpost, Development Bank of Kazakhstan, SK Pharmacy, Damu and Samruk-Kazyna.
It is expected that over the three years of the programme's implementation the fund's expenses will be reduced by a total of eight to nine billion tenge.
