KTZ Top Management Pay Tops One Billion Tenge

The remuneration of key management at Kazakhstan Temir Zholy increased by 27% in 2025 and exceeded one billion tenge, Orda.kz reports.

According to the company’s consolidated financial statements, payments to key management personnel amounted to 1.036 billion tenge. In 2024, the figure stood at 816 million tenge, meaning management expenses rose by about 220 million tenge over the year.

The amount includes payments to members of the board of directors for attending meetings, contract-based salaries of board members, taxes, social contributions, provisions for unused leave, and other performance-based payments.

At the end of 2025, KTZ’s key management personnel consisted of 18 people. Roughly speaking, that means about 57.5 million tenge per person per year, though this does not mean everyone received the same amount.

The increase in payments may be linked to KTZ’s preparations for a possible IPO.

Original author: Elvira Ivannikova

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