Kazakhstan's APDC Seizes Over 10 Million Tenge from KTZ Subsidiary
Photo: Midjourney, AI generated
The capital's department of the Agency for the Protection and Development of Competition (APDC) has seized more than 10 million tenge from the joint-stock company KTZ Express, a subsidiary of KTZ, following an antimonopoly investigation, Orda.kz reports.
According to APDC, the agency found competition law violations in the activities of KTZ Express. The investigation was conducted with the participation of the Main Transport Prosecutor's Office.
In 2021, the subsidiary of KTZ set monopolistically high prices for transportation. The fees the company collected for its services were higher than permissible norms.
They amounted to 30% of the cost of rail transportation in Kazakhstan.
Following the consideration of the case, the specialized inter-district court of Astana for administrative offenses imposed a fine on the company in the amount of 853.3 thousand tenge with confiscation of monopoly income in the amount of 10 million 114.3 thousand tenge. The court ruling has entered into legal force, reported by APDC.
JSC KTZ Express has existed since 2002 and is wholly owned by the national company Kazakhstan Temir Joly. The company is headed by Damir Kozhakhmetov, who also manages the IT firm DNS Systems LLP.
Original Author: Nikita Drobny
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