Economy • 09 August, 2019

Kazagro Holding plans to achieve net profit after implementing the reform in 2020

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It is reported by the press service of PM.

 

As part of the implementation of the order of the President Kassym-Jomart Tokayev, given at an extended meeting of the Government July 15, 2019, a set of measures to reform and improve the efficiency of KazAgro Holding JSC was reviewed and approved, and specific instructions were given to his leadership:

- Transform KazAgro into a compact holding, reducing the number of its subsidiaries, clearly delimiting them by functionality, eliminating duplication of functions between them;

- attract foreign experts to the management bodies of the holding;

- continue to work on optimizing the staff and reduce operating expenses of the holding;

- ensure the efficient and targeted use of budget funds allocated for agricultural financing;

- develop credit products effective for agricultural producers, automate the lending process as much as possible and reduce the time for considering loan applications.

The leadership of KazAgro informed the Government about the development of a draft Holding Strategy for a 10-year period aimed at increasing labor productivity and export of agricultural products, attracting private investment and innovative technologies, as well as developing new business initiatives in the countryside.

A package of measures was taken to improve the quality of the loan portfolio and to improve idle projects.

As a result of the reforms, the holding will be transformed into a compact and efficient financial institution in a short time.

KazAgro plans to increase the effectiveness of its activities and, based on the results of 2020, receive a net profit.

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