The Commission for the Return of Illegal Assets under the Government of Kazakhstan turned into state income 40 billion tenge ($90 million) of Kazakh oligarchs who had previously acquired assets illegally, according to the telegram channel of the Government of Kazakhstan, Zakon.kz reports.
All funds, including 38 billion tenge in cash, as well as a business center in Astana worth 2 billion tenge, will be used for social purposes, including eliminating the consequences of floods.
In addition, the commission approved the signing of investment agreements worth 7 billion tenge, within the framework of which two infrastructure facilities will be built in the cities of Astana and Shymkent by persons covered by the Law of Kazakhstan “On the return of illegally acquired assets to the state.”
“The work to return assets is a direct implementation of the policy of the Head of State to restore social justice. All returned funds are used for the benefit of the people of Kazakhstan,” said Prime Minister of Kazakhstan Olzhas Bektenov.
The law in question was signed by the President of Kazakhstan, Kassym-Jomart Tokayev, in July 2023. In accordance with it, the authorized body can carry out the forced return of illegally acquired assets from persons holding government positions, working entities of the quasi-public sector, as well as affiliates with them.
Initially, such persons are included in a special register, then, if the person cannot prove the legality of the acquisition of assets, the commission decides on the degree of damage caused and compensation.
A number of oligarchs are included in the register, but access to it is limited. The return of illegally acquired assets can be carried out voluntarily or compulsorily. Assets received in favor of the state are transferred to a special state fund, which is a cash control account in the Ministry of Finance.
Funds from the fund are used to finance social and economic projects. In March, the government announced the approval of agreements on the return of illegally acquired assets worth 85 billion tenge.
At the beginning of April, the Kazakh regions, like the Russian ones, faced floods. Evacuation was announced in several regions of the country; by April 17, the number of rescued and evacuated Kazakhstanis exceeded 116 thousand.
CentralasianLIGHT.org
April 30, 2024