Nurlan Rakhmetov, the financial director and member of the board of the National Welfare Fund Samruk-Kazyna, said that the Fund has been forced to revise its expenses and costs of investment projects due to low oil prices, Trend reports.
The situation worsened in late 2014, the events in late December – early January provoke new revisions. Rakhmetov noted that officials of sector companies and subsidiaries were discussing optimization of plans for 2015. An extended session attended by heads of Samruk-Kazyna companies took place on January 19 to find solutions to the problems.
Both the income and expenditure of Samruk-Kazyna will be reduced. Large investment projects, including construction of railways and pipelines, and modernization of state refineries, will be slowed down.
