OREANDA-NEWS. June 23, 2014. Senate of Kazakhstan Parliament approved in first reading the draft law "On amendments and additions to some legislative acts of Kazakhstan on issues of public administration" at the plenary session.

"The bill has been prepared in order to improve implementation of the Concept of the state planning system’s improvement and is aimed at improving the new budget policy," Minister of Economy and Budget Planning Yerbolat Dossayev said presenting the bill.

According to him, a possibility of redistribution development programs of one of the central public authority without consideration of the Republican Budget Commission, by decision of the Government, within 5 percent of the prescribed amount, and with consideration of the Republican Budget Commission - in the range of 5-10 percent is provided to increase the efficiency of budget execution.

An opportunity to reallocate funds to target transfers within one budget program for development at a rate not exceeding 10 percent is provided to enhance the independence of local authorities. Simplification of procedure for allocation and implementation of targeted transfers to the regions has also been provided. Development of socio-economic development forecasts of regions and cities of regional importance with integration of their activities in the forecast of socio-economic development of the region has been canceled.

In connection with the proposed transfer of national companies’ shares in the domestic market under the "People's IPO", prohibition on alienation of mainline railway and national electricity networks by national companies, and restrictions on alienation of national companies’ shares by national companies, who are the owners of these strategic objects are being by national companies.