ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of October 24, 2025 No. 894

About some questions of optimization of subjects of the quasi-public sector and objects of state-owned property

The government of the Republic of Kazakhstan DECIDES:

1. Approve enclosed:

1) method of inclusion and exception of objects of the list of the state assets, privatizeable;

2) the list of the organizations of republican property, privatizeable and reorganization by accession or merge of legal entities.

2. Recommend to local executive bodies to approve:

1) the list of the organizations of utility property offered to transfer to competitive environment according to appendix 1 to this resolution;

2) the list of the organizations of utility property offered to transfer to trust management according to appendix 2 to this resolution;

3) the list of the organizations of utility property offered to reorganization by accession or merge of legal entities according to appendix 3 to this resolution;

4) the list of the organizations offered to liquidation according to appendix 4 to this resolution.

3. Recommend to joint-stock companies "National welfare fund "Samruk-Kazyna" (under approval), "By Kazakhstan Engineering (under approval) to approve the list of the affiliated, dependent organizations of the national managing holdings, national companies and other legal entities which are affiliated with them, offered to transfer to competitive environment and liquidations according to appendix 5 to this resolution.

4. To agency on protection and development of the competition of the Republic of Kazakhstan (under approval) together with the interested state bodies and the organizations to carry out work on exception of types of activity of charters of the companies according to appendix 6 to this resolution.

5. To the central and local executive bodies, state body, directly subordinate and accountable President of the Republic of Kazakhstan (under approval), to subjects of the quasi-public sector (under approval), and also to the interested organizations (under approval):

1) to take measures for implementation of this resolution;

2) annually, following the results of half-year and year (by July 10 and on January 10) to represent information on the course of implementation of this resolution to the Ministry of national economy of the Republic of Kazakhstan and Agency on protection and development of the competition of the Republic of Kazakhstan;

3) to consider question of disciplinary responsibility of officials not below deputy managers of state bodies, deputy managers of the organizations for untimely realization of objects, including for transfer of term of privatization;

4) to provide preserving controlling stock (shares) the organizations included in the list of objects of the industries of economy having strategic importance concerning which the state monitoring of property approved by the order of the Government of the Republic of Kazakhstan of July 30, 2004 No. 810, and lists of the strategic objects transferred to the authorized capital and (or) which are in property of national holdings and (or) the national companies or their affiliates, and also other legal entities with participation of the state and the strategic objects which are in property of the legal entities not affiliated with the state but physical persons approved by the order of the Government of the Republic of Kazakhstan of June 30, 2008 No. 651 is performed;

5) not to reduce the number or the staff of employees of the organizations to the conclusion of the purchase and sale agreement.

6. Annually following the results of half-year and year (by July 25 and on January 25) to provide to the ministry of national economy of the Republic of Kazakhstan submission to the Government of the Republic of Kazakhstan of summary information on course of execution of this resolution.

7. To impose control of execution of this resolution on the Ministry of national economy of the Republic of Kazakhstan.

8. This resolution becomes effective since January 1, 2026.

Approved by the Order of the Government of the Republic of Kazakhstan of October 24, 2025 No. 894

Method of inclusion and exception of objects of the list of the state assets, privatizeable

Chapter 1. General provisions

1. This method of inclusion and exception of objects of the list of the state assets, privatizeable (further – technique), is applied in case of inclusion and exception of subjects to privatization of the list of the state assets, privatizeable, according to this resolution (further – the list).

2. In this technique the following basic concepts are used:

1) State commission concerning upgrade of economy of the Republic of Kazakhstan (further – State commission) – the advisory advisory body in case of the President of the Republic of Kazakhstan formed by the Presidential decree of the Republic of Kazakhstan of April 13, 2007 No. 314 "About measures for upgrade of economy of the Republic of Kazakhstan";

2) it is excluded;

3) the working group on development of recommendations about questions of privatization and privatization (further – working group) – advisory advisory body under State commission concerning upgrade of economy of the Republic of Kazakhstan;

4) the central authorized body on state planning – the central executive body performing management and also in limits, stipulated by the legislation the Republic of Kazakhstan, cross-industry coordination in the field of state planning and strategic, control, realizable and regulating functions;

5) subject to privatization – the state companies, shares of joint-stock companies, shares in the authorized capital of limited liability partnerships, the affiliated and dependent organizations of national managing holdings and other legal entities who are affiliated with them (further – object).

Chapter 2. Inclusion of objects in the list of the state assets, privatizeable

3. Inclusion of objects in the list is performed in the following sequence:

1) carrying out by state bodies, national managing directors of holdings of the analysis of activities of subjects of the quasi-public sector subordinated to them regarding feasibility of their privatization taking into account the approaches and criteria provided in item 4 of this technique;

2) initiation of question of inclusion of object in the list by state bodies concerning legal entities subordinated to them, subjects of the quasi-public sector, physical persons and legal entities or availability of the corresponding order of management of the Government, Administration of the President of the Republic of Kazakhstan;

3) preparation concerning subject of the industry conclusion authorized body of the corresponding industry and line item antimonopoly authority;

4) preparation of recommendations by the working group;

5) entering of question of inclusion of object into the list for consideration of State commission;

6) in case of adoption of the positive decision by State commission entering of question of inclusion of object into the list for consideration of the President of the Republic of Kazakhstan;

7) based on the decision of the President of the Republic of Kazakhstan entering into Government office of the Republic of Kazakhstan of the draft of the order of the Government of the Republic of Kazakhstan providing inclusion of object in the list.

4. State bodies and national managing holdings when forming offers on inclusion of objects in the list are guided by the following approaches:

1) subsidiary (auxiliary) role of participation in the goods markets with the low level of the competition and the offer;

2) the temporariness of participation in subjects of the market implying obligatory privatization of all subjects of the market with the state participation, except for strategic and social objects, infrastructure facilities of the financial market, objects providing functioning of interbank payment systems and the financial market;

3) determination of strictly limited circle of the purposes and tasks of creation of the subject of the market with the state participation, its functions, assessment of their achievement and realization;

4) inadmissibility of creation of private monopolies (including local) in case of privatization, except for subjects of natural monopolies.

For the purpose of forming of offers on inclusion of objects in the list state bodies, national managing holdings annually, till December 31, analyze activities of subordinated subjects of the quasi-public sector on compliance to one or several of the following criteria:

1) implementation of the business activity which is not corresponding to the cases specified in Item 1 of article 192 of the Entrepreneurial code of the Republic of Kazakhstan (further – the Code);

2) compliance of the subject of the quasi-public sector to categories of subjects of entrepreneurship, stipulated in Item 3 articles 24 of the Code (subjects small, including microentrepreneurships);

3) availability of the offer of antimonopoly authority on transfer to competitive environment of the state companies, legal entities, more than fifty percent of shares (share in the authorized capital) which belong to the state, and the legal entities affiliated with them;

4) ownership of not controlling stock (shares) which do not grant the right to make strategic decisions on important aspects of activities of the legal entity;

5) taking into account project payback period implementation of sale of shares (shares in the authorized capital) the states in the legal entities specified in Item 5 of article 192 of the Code;

6) approach of the presence term recommended by antimonopoly authority in this goods market of the state companies, legal entities, more than fifty percent of shares (share in the authorized capital) which belong to the state, and the legal entities affiliated with them;

7) receipt to authorized body on state-owned property or local executive body or the office of the akim of the city of district value, the village, the settlement, the rural district of offers from subjects of private entrepreneurship on acquisition of appropriate subject of the quasi-public sector.

The criteria specified in subitems 4) and 7) to part two of this Item do not extend concerning legal entities whose activities are connected with ensuring national security, defense capability of the state, use and content of strategic and socially important objects, and also objects which are not subject to alienation according to the laws, acts of the President and the Government of the Republic of Kazakhstan.

5. Initiation of question of inclusion of object in the list is performed by state bodies, national managing directors of holdings by the simultaneous direction of the petition to the following state bodies:

1) authorized body on state planning;

2) authorized body of the corresponding industry;

3) antimonopoly authority.

The petition for inclusion of object in the list contains:

1) data on the owner of object;

2) data on object, including on results of financial and economic activities for the last three years;

3) data on availability/lack of encumbrance of object by the third party rights;

4) reasons for feasibility of privatization of object.

Initiation of question of inclusion of object in the list by state bodies, national managing directors of holdings following the results of the analysis which is carried out according to item 4 of this technique is performed annually till January 31.

6. The authorized body of the corresponding industry (local executive body) or antimonopoly authority on analysis results of types of activity of the organizations and competitive situations in the goods markets places on the web portal of the register of state-owned property (further – the web portal of the register) the list of the legal entities recommended for transfer to competitive environment, controlling stock (shares in the authorized capital) which belongs to the state.

The central authorized body on state planning within 5 (five) working days creates on the web portal of the register the application list of state-owned property based on the lists placed by authorized body of the corresponding industry (local executive body) or antimonopoly authority.

Access on the web portal of the register for viewing of the application list of state-owned property and application for initiation of process of privatization of the legal entity of the application list of state-owned property, with appendix of the development program of this legal entity (action for enhancement of management, upgrade or expansion of production, investment) is provided to potential buyers (physical or non-state legal entities).

The authorized body of the corresponding industry (local executive body) after receipt from the potential buyer on the web portal of the register of the statement on initiation of process of privatization of the legal entity of the application list of state-owned property holds events for inclusion of this legal entity in the list according to the procedure, provided by items 4 and the 5th this technique.

7. The authorized body of the corresponding industry within 15 (fifteen) calendar days from the date of receipt of the petition or receipt of the order of management of the Government, Administration of the President of the Republic of Kazakhstan if other term is not established in the order, sends to the address of authorized body on state planning the industry conclusion.

The industry conclusion contains:

1) assessment of current status of industry, including determination of share in it of domestic, overseas and joint businesses;

2) reasons for feasibility of inclusion of object in the list or reasons for inexpediency of its privatization taking into account economic interests of the state;

3) assessment of expected effect of privatization of object or preserving object in property of the state;

4) assessment of expected risks (threats and ensuring national security, defense capability of the state or protection of interests of society of the Republic of Kazakhstan) in case of privatization of object;

5) calculations and reasons in case of lack of risks (threats to national interests of the Republic of Kazakhstan).

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