ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of November 15, 2004 No. 1201

About some questions of increase in effective management of state-owned property

For the purpose of implementation of actions, directed to further increase in effective management of state-owned property, the Government of the Republic of Kazakhstan DECIDES:

1. Approve enclosed:

1) Rules of development of investing programs of the state companies, joint-stock companies (limited liability partnerships) which controlling stocks (shares) belong to the state, except for institutes of development, and also national managing holding;

2) changes and additions which are made to some decisions of the Government of the Republic of Kazakhstan.

2. it is excluded

3. This resolution becomes effective from the date of signing, except for the subitem 1) of Item 1, which becomes effective since January 1, 2005.

Approved by the order of the Government of the Republic of Kazakhstan of November 15, 2004 No. 1201

Rules of development of investing programs of the state companies, joint-stock companies (limited liability partnerships) which controlling stocks (shares) belong to the state, except for institutes of development, and also national managing holding

1. These rules of development of investing programs of the state companies, joint-stock companies (limited liability partnerships) which controlling stocks (shares) belong to the state (further - Rules) determine procedure and the principles of development of investing programs of the state companies, joint-stock companies (limited liability partnerships) which controlling stocks (shares) belong to the state (further - the companies), except for institutes of development, and also national managing holding and are applied to the purposes of mid-term planning, since plan development for 2006-2008.

2. The purpose of Rules is increase in efficiency of public administration (participation in management) by the companies in case of adoption of investment decisions, including streamlining of this process.

3. Investing programs of the companies shall be directed to implementation of the accepted strategic plans, the state, industry regional programs and correspond to state policy in the field of management of the state assets.

4. The investing program is appropriate section of the development plan (the plan of financial and economic activities, the plan of economic activity) of the company. The investing program consists of three subsections: "Assessment of investment situation", "Investment priorities and directions" and "The investment plan".

5. Assessment of investment situation provides the analysis of the existing situation in industry (sphere), the role and line item in it of the company causing forming of investment policy of the company.

This subsection of investing program is created on the basis of the trekhurovny analysis including:

the analysis of investment situation in industry (sphere) of the republic (area, the city of republican value) - the 1st level;

the analysis of results of the 1st level in relation to interests, specifics, the purposes and tasks of activities of the company - the 2nd level;

the analysis of results of the 2nd level in relation to potential opportunities of the company including determination of types of investments, costs of projects of investment intentions, the range of available projects, expected sources of financing available to investment, the forecast and nature of realization of investment intentions, and also the risk connected with adoption of the planned investment decisions - 3rd level.

Analysis results on each level are summarized in the form of accurately designated and specific conclusions.

6. Investment priorities and the directions substantially represent stage of provisional basic estimate of feasibility of further comprehensive, detailed study and reasons for investment projects of investment intentions for subsequent their inclusion in the investment plan next year.

This subsection of investing program is developed based on results of assessment of investment situation and includes the main priorities and tasks of investment policy of the company, and also the complex of the planned investment projects reflecting investment intentions of the company.

Investment intentions contain predesigns and reasons, sources and schemes of financing, payback period, and also other maintenance of investment intentions.

7. The projects included in investment priorities and the directions of the company of the subject of natural monopoly are subject to coordination with authorized body on regulation of natural monopolies regarding provisional estimate of their possible influence on rates (the prices, rates of charge) during realization. At the same time preliminary coordination of projects of the investment directions is not condition of their obligatory realization (before inclusion of projects in the investment plan).

8. The investment plan represents the list and passports of the investment projects which earlier got approval by their consideration in investment priorities and the directions of investing program of prior year.

The projects included in the investment plan shall have the feasibility statement, the expert opinion, the industry conclusion, specific sources of financing and other fixed parameters on their realization.

In the passport of each investment project included in the investment plan key parameters of the investment project, and also specific (measurable) indicators in a condensed form are specified. In particular, general information about the investment project, the description of its nature, the scheme of project management, the direction of use of investments, the product characteristic (services), the market, extent of study of the project, financial and economic indicators, guarantees of return and risks, the budget and social efficiency of the project is stated.

The form and the structured list of indicators of the passport affirm within structure of Sections, forms and lists of indicators of development plans (the plans of financial and economic activities, economic activity) determined according to the legislation of the Republic of Kazakhstan.

Along with the above-stated requirements, the determining condition of inclusion of projects in the investment plan their obligatory realization is.

9. Investing programs, being Sections of development plans (plans of financial and economic activities, plans of economic activity) of the companies, are developed in terms and according to the procedure, established by the legislation of the Republic of Kazakhstan.

10. Investing programs of the companies are information source for development of mid-term plans of social and economic development of the Republic of Kazakhstan and areas, the cities of republican value and basis for forming of state policy in the field of asset management.

For the purpose of harmonization of the investing programs of the companies planned to realization with the approved and developed republican and regional mid-term plans of social and economic development their complex assessment regarding efficiency and coordination with the state policy performed within mid-term planning is performed.

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