Head of NBK proposes to stop giving state aid to insolvent companies

ASTANA. KAZINFORM - Governor of the National Bank of Kazakhstan Daniyar Akishev has proposed to stop rendering governmental support for insolvent companies during today's enlarged meeting of the Government of the Republic of Kazakhstan with the participation of the Head of State, Kazinform correspondent reports.

The head of the National Bank also proposed to consider the possibility of termination of the state aid measures for insolvent companies.

"Direct government funding should remain only for large-scale infrastructure projects which are low-profit or socially-oriented. We need to raise the effectiveness of bankruptcy proceedings," added Daniyar Akishev.

He informed that only 3.6 percent of small enterprises go bankrupt, and half of these are commercial ones.