The Board of Directors of the Samruk-Kazyna Kazakh National Welfare Fund reviewed the results for 2014 and outlined plans for the next five years at the next meeting, chaired by Prime Minister Karim Massimov, the press-service of the JSC said Feb.2.

“The development plan is based on the forecast of socio-economic development of Kazakhstan for 2015-2019, taking into account the prices and tariffs for goods, work and services of the group of companies of Samruk-Kazyna,” said the financial director of Samruk-Kazyna Nurlan Rakhmetov. “In addition, the adjusted prices for Brent oil were used during the formation of the development plan - these data were provided in January by the Ministry of National Economy.”

It was also decided to establish a Committee to oversee the implementation of the Program of business transformation under the Board of Directors of Samruk-Kazyna JSC at the meeting. The Committee will consist of three members of the Board of Directors, and the Prime Minister, Chairman of the Board of Directors of Samruk-Kazyna JSC Karim Massimov was appointed its chairman, said the press release.

The new committee will carry out an independent expert assessment of the work to implement the transformation program in a group of companies of the fund. Once in six months it will submit its recommendations to Board of Directors of Samruk-Kazyna. The analysis results for the year will be presented to the president.

The other issues of the fund activity, on which relevant decisions were made, were also considered.