Accounts Committee finds KZT1.5bln worth violations in Samruk-Kazyna Fund
“Public audit covered over 93bln tenge. The audit is conducted in two areas. The first one is use of national budget funds allocated under the budgetary programme No.049 for increasing Samruk-Kazyna’s charter capital for the construction of two railroad lines (Barakty-Aksay and Almaty-Shu), construction of a ferry complex at Kuryk Port and establishment of Khorgos-Eastern Gates SEZ. The second area is to place the shares of the Fund’s daughter and related organizations at Kazakhstan Stock Exchange from 2011 to 2015. As for the projects’ implementation, the audit covered the funds allocated from 2014 through September 30, 2016. The total amount of financial violations detected during the audit made 1.5bln tenge. 1.3bln tenge of this sum was utilized ineffectively,” says Mukhametkarim.
According to her, the Accounts Committee has revealed a number of procedural violations, such as conducting installation and construction works without design and construction documents, without appropriate notification of authorities about start of work, without designer’s supervision as well as use of construction materials with expired certificates of compliance.
As for the placement of shares at KASE under the People’s IPO programme, Mukhametkarim said that the programme was specified in 2014 and then was suspended. Only two companies out of 6 planned ones placed their shares at KASE.
Director for Finance and Operations of Samruk-Kazyna Fund Ernar Zhanadil and Chief Engineer of JSC Kazakhstan Temir Zholy Bauyrzhan Urynbassarov made reports regarding the violations detected during the audit.
