2009 budget of ?SamrukKazyna? subsidiary companies reduced by KZT 170 bln: Kelimbetov

ASTANA. January 27. KAZINFORM /Zauresh Balkenova/ Expenditure side of the group of companies of ?SamrukKazyna? National Welfare Fund for 2009 has been reduced by KZT 170 bln. Chairman of the Fund Kairat Kelimbetov has made this public at a sitting of the holding?s board today, Kazinform reports.

?While considering the 2009 budget of its subsidiary companies the Fund has significantly cut the expenditure side. This sum made about KZT 170 bln, including KZT 100 bln in large participants of the holding?, K. Kelimbetov informed. According to Mr. Kelimbetov, the expenses of the state holding have been reduced by KZT 6 bln. In addition to this, capital expenses have been cut by KZT 4 bln due to postponing implementation of some projects. As a result, saving in the 4th q of 2008 comprised KZT 10.6 bln. The consolidated charter capital of SamrukKazyna Fund is about KZT 3.5 trln or USD 29 bln. The total number of employees of the holding exceeds 260 thousand people including 205 people in the managing company.