Darkhan Kaletayev, Chief Director of Public Relations of «Samruk-Kazyna» JSC: «Samruk-Kazyna» commented on accusation of high bonuses

Chief Director of Public Relations of «Samruk-Kazyna» JSC Darkhan Kaletayev commented on this statement.

- President of the «FarmMedIndustry» Association Serik Sultanov, referring to the «SK-Pharmacy», said that the cost of apartments in Astana does not fall due to the payment of bonuses each year at a rate of 3 annual salaries to the board members of subsidiaries of «Samruk-Kazyna.» How would you comment on this?

- I would like to clarify that the «SK-Pharmacy» is not included in the group of companies of the Fund. Since May 2009, ownership and use of a wholly-owned stakes in LLP has been transferred to the Ministry of Health. Since May 2013 it has been fully transferred by the Government decree.

-Regarding the impact on the housing market, this statement is absurd. The number of managers who receive bonuses is very small, no more than one per cent among potential buyers.


- «Samruk-Kazyna» Fund renounced the practice of paying bonuses to top management in 2008-2009. Why does the management start this practice again?

- In 2012, we resumed the payment of bonuses. It is motivated by the need to retain and encourage highly qualified managers.

-What merits does top management receive bonuses for?

- Actually bonuses are not pennies from heaven. Top management must earn them. In order to avoid various misunderstandings, we have built a transparent incentive system accountable to the government, the sole shareholder of the Fund. If the manager was able to reach specific indicators (results) in the work, only then he has the right to claim these bonuses.

-Salaries of the employees of the Fund became a legend. Some people believe that they are just extortionate. Is it true?

- This question was raised not for the first time. As you mentioned it is only legend. This is evidenced by the results of research in the area of remuneration of top managers of large companies. Currently, the salaries of heads of the Fund for almost five times lower than the top managers of large companies in the market of Kazakhstan and abroad.

- Taking into account the devaluation has management salary been revised?

- The salaries of Board members of the Fund have not been revised since 2011.

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