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Sovereign Wealth Funds Briefing - Categorized | Financials

Samruk-Kazyna to optimize its costs

Posted on 22 November 2012

Before the end of 2012, Kazakhstan will approve a three-year cost reduction programme for the national companies. It was the managing director of Samruk-Kazyna Nurlan Rakhmetov who made a corresponding statement in Astana. According to him, international consultants with international experience are to be hired to develop a plan to optimize costs.
It is expected that over the three years of the programme’s existence, the Fund will save at least 8 billion tenge. Also at the briefing, it was announced that this year, the Fund has reduced the amount of its sponsorship financing three-fold from 60 to 20 billion tenge. In addition, Samruk-Kazyna imposed a strict ban on the construction and acquisition of non-core items………………………………………..Full Article: Source


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