The Meeting of the Public Council of Samruk-Kazyna JSC to Have Been Held in Astana

The Meeting of the Public Council of Samruk-Kazyna JSC to Have Been Held in Astana

340

24 January 2024

A meeting of the Public Council of Samruk-Kazyna JSC has been held in Astana today.

The meeting was attended by about 40 people, including the management of the Fund, deputies, public and government figures, experts, financiers, and others.

Mr. Nurlan Zhakupov, Chairman of the Management Board of Samruk-Kazyna JSC, spoke about the results of the work of the holding in 2023. Thus, according to preliminary data, in 2023 the net profit of the Fund is at the level of about KZT 1.9 trillion, which is comparable to the net profit of 2022, noted the head of Samruk-Kazyna JSC.

“Although in 2022 the average oil price was USD 99 per barrel, and in 2023 it was USD 81, which means that the price of oil tightened up by almost 20%. Moreover, against the background of growing domestic demand, the volume of gas exports has decreased. At the same time, gas prices on the domestic market are much lower than export prices. We have achieved the results comparable to 2022 in terms of net profit thanks to effective liquidity management and treasury portfolio.

sk-press-1.jpg


The state holding has adopted a unified policy for managing free cash in national companies, negotiated with banks having improved the conditions for the placement of the Fund’s money. We have more than doubled the target for profitability in terms of free liquidity”, Mr. Zhakupov said.

A record number of dividends was paid to the state this year, which amounted to KZT 238 billion.

Experts and the public were interested in such areas of activity as the procurement process of the group, privatization, social responsibility, work efficiency, new projects, and others.

The Public Council of Samruk-Kazyna JSC is an advisory and supervisory body.

It was formed to represent the interests of civil society and to take into account the opinion of the public when discussing and making decisions, to increase accountability and transparency of the Fund’s activities.

Goals and objectives of the Public Council:

  • collecting, consolidating and considering the opinion of public;
  • representing the interests of civil society;
  • developing constructive interaction with civil society;
  • monitoring the implementation of the development strategies and plans of the Fund;
  • making recommendations on improving the activities of the Fund.

In 2022, 13 meetings of the Council were held, in 2023 there were 12 meetings on a wide range of issues, including the procurement procedure of the Fund, the process of transferring companies to the competitive environment, the development plan, the activities of Portfolio Companies, etc.