Government approaches to stabilizing prices for socially important food products proved their effectiveness in 2023 - Zhumangarin
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The work carried out in 2023 to stabilize prices for basic foodstuffs was considered at a meeting in the Government, primeminister.kz reports.
According to preliminary results, the measures taken during the year had their effect: for 11 months food inflation in the country amounted to 7.5% at a general level of 8.9%. Deputy Prime Minister Serik Zhumangarin thanked the heads of regions, relevant ministries and organizations for effective work, stressing that the basic task for the next year is to further reduce the annual inflation rate.
Everyone has done well this year, but the achieved indicators will be high for 2024. Keep a close eye on market conditions and the dispersal of vegetable stocks. We need to keep the winter inflation, otherwise it will be difficult to stabilize it in the future," the Deputy Prime Minister said.
Deputy Minister of Agriculture Yerbol Taszhurekov informed about the state of stocks of basic foodstuffs in the SPCs' stab funds for the off-season. Today the volume of 174.1 thousand tons (100.6 thousand tons of potatoes, 25.6 thousand tons of onions, 22.6 thousand tons of cabbage, 25.1 thousand tons of carrots) has been formed. This is 20% higher than the level of demand recommended by the Ministry of Agriculture for this period. Regions concluded contracts for 18.5 thousand tons of rice, which is 92% of the recommended volume. Of these, 66.6% of contracts - with producers of Kyzylorda region.
For sugar, the volume of stocks in the SPK is 51.6 thousand tons, which is twice as much as the recommended need. For buckwheat groats in 13 regions stocks also exceed the recommended norm of need," Taszhurekov said.
At the meeting it was reported that the volume of direct contracts with agricultural producers under the revolving scheme by the regions has been brought to 70%.
All regions should be fully provided with the types of products that they produce. For example, Zhambyl region - onions, Turkestan region - cabbage, Kyzylorda region - rice, East Kazakhstan region - sunflower oil, etc. It is also necessary to provide all regions with them as much as possible. This year we have established effective horizontal links of supply of vegetables and products between the regions, it is necessary to further strengthen these links. In January, we will hold a final meeting, at which the Ministry of Agriculture should present forecasts on the beginning of dispersal of formed stocks," Serik Zhumangarin summarized the results of the meeting.
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Kazakh deputy criticizes performance in mechanical engineering sector despite funding infusion
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Kazakhstan has been funneled 285 billion tenge in the mechanical engineering sector from the republican budget in the past three years, Kazinform News Agency correspondent reports.
285 billion tenge has been allocated to the mechanical engineering sector from different sources (the Development Bank, Industrial Development Fund, KazakhExport) over the past three years. In 2023, 13 thousand vehicles were made using the small node assembly method in 2023, which is a 9.7% of the overall vehicles produced last year. It is expected that the figure will rise to 64% by 2027, said Majilis deputy Nurtai Sabilyanov, while noting the low performance rate given the support provided by the state.
The deputy stated that many industrial companies acquire vehicles and equipment only (780 projects or 49.5%) with the support received from the Industrial Development Fund, which has nothing to do with the development of the industrial sector.
Moreover, according to the industry review of the National Bank, a weighted average capacity utilization in the manufacturing industry stood at a mere 51.1% in the fourth quarter of 2023. This raises a question of whether annual capital infusions in new projects are reasonable, said the deputy.
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Kazakhstan recovers 40bln tenge of illegally acquired assets
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Today was held a regular meeting of the Commission on the return to the state of illegally acquired assets under the chairmanship of Prime Minister of the Republic of Kazakhstan Olzhas Bektenov, primeminister.kz reports.
The Commission approved agreements on the voluntary return of illegally acquired assets to the state for a total amount of more than 40 billion tenge, of which more than 38 billion is cash, as well as a business centre in Astana worth 2 billion tenge. The returned funds will be used for social purposes, including the elimination of the consequences of floods.
In addition, the signing of investment agreements worth 7 billion tenge was approved, under which two infrastructure facilities will be built in Astana and Shymkent by persons who fell under the Law of the Republic of Kazakhstan "On the return of illegally acquired assets to the state’" The realisation of these projects will create jobs and provide an additional inflow of tax revenues.
The work on the return of assets is a direct realisation of the policy of the Head of State on the restoration of social justice. All returned funds are used for the benefit of the people of Kazakhstan," Olzhas Bektenov emphasised.
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Kazakhstan turns to high-value added manufacturing with building polyethylene plant it Atyrau region
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Prime Minister of the Republic of Kazakhstan Olzhas Bektenov met with the heads of the world's largest oil and gas chemical companies – President of China Petrochemical Corporation (SINOPEC) Zhao Dong and Chairman of the Board of SIBUR LLC Mikhail Karisalovб primeminister.kz reports.
The key issue is the joint construction of the first integrated gas chemical complex for polyethylene production at a cost of about $7.7 billion and a capacity of 1.25 million tonnes per year, which will account for 1% of the world's total capacity.
A tripartite protocol was signed during the meeting, officially finalising SINOPEC's entry into the project. The ownership structure of the plant is as follows: KazMunayGas 40%, SINOPEC 30%, SIBUR 30%.
Head of the Government emphasised the importance of the project due to its focus on the production of high value-added products.
A gas separation complex (GSC) will be built at the Tengiz field to supply the "Polyethylene" project with feedstock (ethane). The capacity of the GSC is 9.1 billion m3 of dry gas processing per year, of which 1.6 million tonnes of ethane is expected to be produced.
Ethane will be sent through the main pipeline from Tengiz to the Karabatan site (territory of FEZ NINT, Atyrau region), where the polyethylene plant will operate.
It is planned to produce about 22 grades of polyethylene using American licence technologies of Chevron Phillips and Univation, 40% of which will be premium grade. A wide range of applications for both industrial and household purposes makes polyethylene the most popular polymer in the world.
Polyethylene is used in the fields of medicine, prosthetics, defence, food industry, construction, space industry and others. This polymer is used in the production of a wide range of goods: from plastic wear-resistant pipes, construction materials, medicines, syringes, prostheses to bulletproof vests, clothing for astronauts and car parts. Target markets include Kazakhstan, CIS countries, China, Turkey and European countries. At the same time, for domestic consumption, the realisation price will be lower than the import price.
The Head of State has identified deep processing of hydrocarbons as one of the key areas of development of the oil and gas sector. The priority for our economy is high conversion production producing products with a rapid increase in added value in the technological chain with an export orientation. The added value between the initial feedstock ethane and the third conversion product polyethylene increases 20 times, from $80-90 to $1600-1800 per tonne. The Polyethylene project will certainly give a serious impetus to the development of both the manufacturing industry and the country's economy as a whole. According to experts' calculations, the contribution to the country's GDP by 2030 from the implementation of the project is estimated at approximately 1.2%," Olzhas Bektenov said.
The construction of the plant is planned to be completed by 2029. During the construction period more than 8 thousand jobs will be created, during the operation period about 850 jobs will be created.
It was noted that the project is realised with the support of the Government. The plant will be built on the territory of a special economic zone with the provision of appropriate infrastructure and special tax regime. In this regard, Prime Minister emphasised the attention of the project participants to the need to maximise the use of local potential.
We on the part of the state provide comprehensive support in the implementation of projects important for the country's economy. At the same time, we expect you to increase the share of local content. For this purpose, it is necessary to determine the list of goods and equipment that will be mandatorily purchased from domestic producers. Special attention should be paid to training of Kazakhstani specialists and transfer of competences. It is important for us to maximise the attraction of local personnel, including for management positions in the project. We count on a similar approach in the implementation of other joint projects," Prime Minister emphasised.
Thus, in addition to the plant "Polyethylene" it is planned to build a gas separation complex and a trunk pipeline.
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