41 enterprises participate in Post-crisis Recovery Program
ASTANA. August 22. KAZINFORM The Program on Post-crisis Recovery of Competitive Enterprises functioning in the country's regions is implemented in Kazakhstan.
Presently, 41 strategic enterprises take part in the Program, according to Pm.kz.
The Program is implemented on the instruction of President N.Nazarbayev given at the 13th Congress of "Nur Otan" Party.
As the Ministry of Finance of Kazakhstan reports, 22 major enterprises were accepted for participation in the Post-crisis Recovery Program. The rest 19 enterprises were allowed to participate in the second phase of selection.
Participation of 19 companies undergoing the second phase of selection will be considered at a session of the Recovery Council after they submit their recovery plans, the press service of the Ministry informs.
It is worth noting that the selection of the Program participants is held in two stages. The first stage implies collection of all necessary documents. The second stage is aimed at development of a recovery plan by consultants, its approval by the creditors committee, analyses by the working group of the Recovery Council, consideration at the Council's session and approval for participation in the Program.
Upon the results of the first half of the year, LLP "Wholesale Club", LLP "Mega Center Astana", LLP "Mega Center Almaty," JSC "Mega Center Shymkent", LLP "Mega Center Aktobe", LLP "Raimbek Agro", LLP "Good Food Company", LLP "Maslodel", JSC "Kazros-Broiler",LLP "Raimbek Bottlers", LLP "Invest Capital Realty", JSC "Abdi Company", LLP "Interstroiservice and K", LLP "TPK Karasu", LLP "AK Kaiyn-K", LLP "Zhanabek", LLP "Karaman-K", LLP "Ramazan-Karasu", LLP "Taldy-K", LLP "Karasy-Astyk," LLP "Koibagor Petroleum Depot", LLP "Koibagor Grain Elevator" participate in the Program. KZT 2.295 bln is allocated for financing of their credits.
The deadline for applications acceptance was extended to January 1, 2013. 30-50 strategic enterprises are expected to undergo the recovery procedure by 2016. Thiswillallowtopreserveabout 70% ofjobs.
The Post-crisis Recovery Program is one of the anti-crisis initiatives of the Government of Kazakhstan providing with an opportunity to finance working capital on beneficial terms, increase the nominal capital and gain new impetus for growth in form of support instruments and reduction of the interest rates for credits.