NUR-SULTAN, Kazakhstan – The government of Kazakhstan should think about attracting foreign specialists to the management of the national agricultural holding, Kazakh President Kassym-Zhomart Tokayev said, speaking at an expanded government meeting on 15 July.

Thus, the loss for 2018 of the national holding KazAgro, the operator of strategic projects for the development of agriculture, amounted to more than 120 billion tenge ($1- 383,43 tenge).

“The government needs to take radical measures regarding ‘KazAgro’. The total loss of KazAgro in 2018 amounted to more than 120 billion tenge. This is evidence of absolute inept management. Of 672 funded projects, 270 or 40% are non-operational production. The company should be promptly reformed,” Tokayev said.

He instructed the government to prepare concrete proposals to solve this issue within two months.

“It is time to conduct a thorough analysis of the performance of large entities of the quasi-public sector. Every national holding or national company should bring only benefit to Kazakhstan and its citizens. The losses of quasi-state companies should be forgotten as a nightmare. They should generate only revenues, not losses. You need to remember that development institutions are designed to develop the economy, to serve to the people,” Tokayev said.