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Problem of state enterprises - ineffective management

«The analysis showed that the main problems of the state-owned enterprises and companies with state participation are staff overage and ineffective management," Bolzunbek Kazakov, Chairman of the State Property Management Fund, said at a press conference today.

According to him, work is currently underway to reduce unnecessary branches and offices in state-owned companies. At the same time, Bolzunbek Kazakov noted that the optimization and reduction of staff in ministries and departments is ongoing, but such work is carried out for the first time in state owned companies.

«To improve the efficiency of state property management, a large inventory of all facilities is underway. It will be completed by December 1, 2017. A unified database will be created, access to which will have not only the state bodies, but also the public," Bolzunbek Kazakov told.

«Now the State Property Management Fund has a big task to improve the efficiency of state property management. In this part, together with the Ministry of Economy, we are developing the concept of reforming the fund. The possibility of its transformation into managing holding companies — in the financial sector, subsoil use and industry — is considered. This practice is used in many states and brings good results," he added.