Politics • 07 June, 2019

65 billion tenge allocated for purchasing agricultural equipment for spring sowing and harvesting in 2019

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June 7 at the press conference on the results of spring sowing in the Government’s press center, issues of the state and prospects for the development of agricultural engineering were raised, wrote primeminister.kz.

As the First Vice Minister of Agriculture Aidarbek Saparov noted, Kazakhstan pays a lot of attention to domestic engineering.

“Recently during his working visit to Moscow, the Prime Minister Askar Mamin signed a memorandum of cooperation together with the Prime Minister of the Russian Federation Dmitry Medvedev. An agreement has been reached on the assembly of K-744 combines in Kazakhstan. In Kostanay we collect harvesters, in Kokshetau — Kamaz vehicles. For equipment that is bought from us, a 25% subsidy is provided. In addition, another 10% can be given from the local budget,” Saparov noted.

An important role in increasing the fleet of vehicles is played by such measures of state support as investment subsidies and subsidies of interest rates on leasing of vehicles. Managing Director of KazAgro National Management Company Assylkhan Juvashev spoke about the financing mechanism for leasing agricultural equipment. According to him, one of the main objectives of the subsidiary of KazAgro — KazAgroFinance JSC — is to upgrade the machine-tractor fleet of Kazakhstan by leasing agricultural equipment and machinery to farmers.

“It is necessary to update the equipment up to 6% annually. Today, the equipment is updated at 1.5-2% per year. In this regard, KazAgroFinance conducts active work,” Juvashev said.

At present, thanks to the introduction by the Ministry of Agriculture of the Program for subsidizing interest rates, it is possible to effectively reduce the interest rate to 4-6% per annum. As a result, the volume of applications exceeded almost 1.5 times the volume of applications for the previous year.

“To date, more than 50 billion tenders have already been approved for the leasing of equipment, while the annual plan is 65 billion tenge. The need is very big and we are planning to increase the amount of funding through the introduction of this subsidy program,” he said. As of June 6, 2019, the purchase of 2.4 thousand units of various types of agricultural equipment for spring field and harvesting in 2019 was financed through KazAgroFinance JSC.

In addition, as part of the automation of procedures, KazAgroFinance actively accelerates the decision-making process, documents are being reduced. The company plans to implement the volume of financing for the current year as soon as possible.

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