Kazakh Senate questions billions in funding for state-backed companies
Senate Speaker Maulen Ashimbayev has expressed concerns regarding the allocation of hundreds of billions of tenge to quasi-state companies. Over the past two years, KazAvtoZhol and Jasyly Damu alone have received more than 730 billion tenge, yet financial reporting remains incomplete or irregular. Ashimbayev is now advocating for stricter oversight and a reevaluation of how these funds are utilized.
KazAvtoZhol has collected 130 billion tenge in under two years, while Jasyly Damu has taken in 600 billion tenge over the last year and the current incomplete year. Despite holding substantial reserves, both companies continue to receive large budget allocations. Additional funding for 2026 has already been set aside, sparking debate over whether these resources are being used wisely.
The debate over these allocations is set to continue as lawmakers review financial controls. If Ashimbayev’s proposals are adopted, stricter audits and transparent reporting could be introduced. The outcome may also see more funds redirected to regional projects and public services in the coming years.
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