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PM charged to prepare amendments to legislation adjusting construction companies' activity

Astana. September 19. Kazakhstan Today - The Prime Minister of Kazakhstan Karim Masimov charged Kazakhstan Ministry of Industry and Commerce and Justice Ministry to prepare amendments to the legislation, allowing the government to adjust activity of the construction companies working with shareholders assets. "I charge to consider an opportunity of application of the similar mechanism to construction companies, working with shareholders assets that we apply with the banks. That is, if a construction company is in a condition of bankruptcy or starts "to fall down" the state should have an opportunity "to intervene" and to redeem the shareholders assets conditionally for 1 KZT as it is possible in the bank system," the Prime Minister added. He also charged to create government working commission to direct regulation of the situation in the construction market of the country. The commission will be headed by the Minister of Industry and Commerce Gayle Orazbakov, the representatives of banks and construction companies. The Industry Ministry has been entrusted to sign memorandum of interaction for settlement of situations in construction market with the large building companies.

Resourse: Kazakhstan Today

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