Ministry of Economy introduced bill ?On National Welfare Fund?

ASTANA. January 15. KAZINFORM. Minister of Economy and Budget Planning Bakhyt Sultanov has introduced a draft law ?On National Welfare Fund? and correspondent amendments today in the Kazakh Majilis?s Committee on Finance and Budget. Chairman of the Committee Gulzhan Karagussova held the session; Kazinform refers to the press service of the Majilis.

The Minister answered questions of a number of deputies. Vladimir Nekhoroshev pointed out the necessity of strict determination of tasks before the Fund. According to the draft law developers, the provisions reflected in the draft law are aimed at the organization of the National Welfare Fund?s effective activity. The draft law defines the peculiarities of the Fund?s status, organization and activity; regulates the subject and purpose of its activity. The activity of the Fund will be based on the principals of legality declared in the draft law as well as observance of the state interests, transparency, effectiveness and flexibility of its activity, responsibility and accountability. The Fund is empowered to purchase strategic objects according to the resolution of the Kazakh Government, objects of bankruptcy proceedings of separate organizations, alienable right to subsoil use and etc.