ASTANA, 3 February – Иnovosty –Kazakhstan NA. Income of monopolists were reduced by the Agency for Regulation of Natural Monopolies of Kazakhstan by 175 billion tenge in 2013. It is more than three times as compared with 2012, Murat Ospanov, the head of the department said on Tuesday.
"Tariffs are strictly approved in accordance with the requirements of the legislation. In 2012 income requested by monopolists were decreased by 55 billion tenge. In 2013, their appetites were reduced by more than 175 billion tenge", Mr. Ospanov said at a meeting of Majilis Committee for socio-cultural development.
Mr. Ospanov also gave the example that from 1 January of the current year, Kazakhstan Temir Zholy National Company announced tariff increase by 25%, providing full supporting documentation.
"However, the company expected and was sure that at least 15 % increase would be possible. However, the agency decided to change tariffs by only 7 %, taking into account that the funds will directly be spent to the modernization of the railway lines, car fleet reequipment", Mr. Ospanov said.
The head of ARNM stressed that the agency limits monopolists and resists all their unreasonable demands, despite the fact that "monopolists are large enterprises, national companies with a strong financial and human resources."
Source: Novosty – Kazakhstan NA
Name of “MinTax” used in this proposal, depending on the context, can refer to MinTax LLP or MinTax Audit LLP and to its structural subdivisions as well. MinTax LLP and MinTax Audit LLP are included into MinTax Group acting on the basis of the Partnership Agreement, and are considered to be separate and independent legal entities founded under the Republic of Kazakhstan legislation, and they are responsible for all rights and obligations only on their behalf. The Companies which are included in MinTax Group are not responsible for any actions or omissions of each other
CONFIDENTIALITY | LEGAL ASPECTS