Kazakhstan Resumes National Fund Monitoring Commission

In Kazakhstan, a commission to monitor the National Fund has resumed its work, Orda.kz reports.

The Commission for Monitoring the Expenditure of Funds from the National Fund was established in 2014. 

Until 2020, it operated under the auspices of the National Bank, then came under the control of the Supreme Audit Chamber. Its activities were temporarily suspended. 

They were resumed at the end of last week following an order from President Qasym-Jomart Toqayev.

The composition was also wholly renewed - it included representatives of the Presidential Administration, the National Bank, the Ministry of Finance, the Prosecutor's Office, the National Security Committee, the Anti-Corruption Committee, and deputies.

The first meeting took place recently. The head of the SAC, Alikhan Smailov, said that control over the National Fund would be strengthened. Now, they are checking more closely how the funds are spent.

Transfers from the National Fund must ensure economic return. These funds cannot be spent on insignificant purposes. This task was set by the head of state,  Smailov noted.

New tasks of the commission:

• Check how effectively the money allocated to support the economy is used
  
• Determine which areas are more critical to finance

On February 21, Alikhan Smailov was received by Qasym-Jomart Toqayev.

After the meeting, it was announced that the Supreme Anti-Corruption Agency would inspect the execution of budgets of several regions, the Samruk-Kazyna Fund, Kazatomprom, KEGOC, the National Bank, and the Ministry of Emergency Situations.

Original Author: Igor Ulitin