RU
RU KZ EN
-17°
-17°C
clear
Almaty Astana Aktau Aktobe Atyrau Zhezkazgan Karaganda Kokshetau Kostanai Kyzylorda Pavlodar Petropavlovsk Semipalatinsk Taldykorgan Taraz Turkestan Uralsk Ust'-Kamenogors Chimkent
Exchange rate
USD / 185.20
EUR / 204.50
RUR / 3.00
CNY / 29.56
Contacts
Contact us +7 (727) 388 8020 +7 (717) 254 2710
Weather in city
KZ RU EN
Contact us +7 (727) 388 8020 +7 (717) 254 2710
  • USD / KZT - 185.20
  • EUR / KZT - 204.50
  • RUR / KZT - 3.00
Almaty Astana Aktau Aktobe Atyrau Zhezkazgan Karaganda Kokshetau Kostanai Kyzylorda Pavlodar Petropavlovsk Semipalatinsk Taldykorgan Taraz Turkestan Uralsk Ust'-Kamenogors Chimkent Tengri FM 107.5 Friday, 06.03.2015
-17 °C
clear
Hot news: Two Kazakh diplomats convicted in Germany sent back to Kazakhstan French Cassation Court approves Ablyazov's extradition Kazakhstan’s President receives Head of KazAtomProm National Nuclear Company Kazakhstan’s Central Bank comes up with plan to reduce economy dollarization UCI requests withdrawal of Astana Pro Team's license Puccini's La Boheme on Astana Opera stage Kazakh Wolves tame Thunder: Astana Arlans win Italian Thunder 3:2 Helicopter crashes in Zhambyl Oblast of Kazakhstan Kazakh woman to run for Polish presidency Narcotics found in Aliyev's blood Astana Opera to stage Verdi's La Traviata directed by Brockhaus Kazakhstan to introduce ban on imports of gasoline and diesel fuel Heavy toll as Australian farmers struggle through drought Kerry to meet Russia's Lavrov for talks on Ukraine crisis Prince William meets Xi, visits sites on China visit Tens of thousands march for slain Russian opposition leader Nemtsov Israel's Netanyahu in US to stop 'bad' Iran deal 'Focus' snatches US box office gold Kerry: US seeks 'transparent, real' probe into Nemtsov murder Detained Ukrainian lawmaker released from custody in Moscow Asian firms challenge Apple with snazzy new smartphones 200 years on, Napoleon returns to southern France Litvinenko widow says Russian opposition killing 'like deja vu' Hong Kong police arrest 33 after anti-mainland march Pope denounces 'intolerable brutality' in Iraq, Syria New Lianyungang-Almaty container train launched Details of early presidential election in Kazakhstan Nazarbayev and Putin discuss Ukraine Nyong'o stolen pearl gown recovered by police Russian opposition leader Nemtsov shot dead: official Versace thrills with thigh-high boots at Milan fashion Jeb Bush cheered, jeered at conservative confab Google hits back at rivals with futuristic HQ plan From westerns to sci-fi: Leonard Nimoy's varied career Cameron defends security services after media unmask 'Jihadi John' Obama, Afghan leader to meet in late March at WHouse Greek PM announces first 'humanitarian' legislation Liberia leader hails Obama's 'extraordinary' Ebola efforts Bjork won't stream breakup album One billion young at risk of hearing loss from loud music: WHO Mexico's Pemex oil firm posts $17.7 billion loss GDP inventor's Nobel medal sells for $391,000 Ukraine at a 'crossroads', still faces threat of war: OSCE Welsh music at Astana Opera and live on Tengrinews today March in Mexico City over slain students Australian PM Abbott bats away leadership speculation Estonians vote amid heightened security concerns over Russia Amal Clooney slams Canada over Al-Jazeera journalist case Long live the King! Elvis returns to Vegas British claim to have cut EU charge false: report Pearl Oscars dress worn by Nyong'o stolen: police Kerry to meet Russian, Iranian FMs next week Mystery Apple event planned for March 9, likely on Watch Pop star Katy Perry visits Auschwitz death camp UN to discuss Ukraine on anniversary of annexation Madonna says 'Intolerance' in Europe 'feels like Nazi Germany' Former Beatle Paul McCartney's childhood home sold UNESCO demands crisis meet over Iraq heritage destruction Presidential elections in Kazakhstan scheduled to April 26 France's Hollande seeks climate 'alliance' with Philippines India pledges $137 bn to modernise railways 'Cape calm and carry on': Madonna mocked after Brits tumble West's shows 'unwillingness' in Ukraine truce: Lavrov Britain's Prince William set to arrive in Japan Crimean Tatars living in fear in homeland ruled by Russia Australia warns women IS no 'romantic adventure' Boston bombings trial to start March 4: court official US, Iran have 'mutual interest' in defeating IS: Kerry Gmail available in Burmese, the email's 74th language UN Security Council calls for stepping up Yemen talks Double Brit wins for Sheeran, Smith as Madonna tumbles Obama challenges 2016 candidates on immigration Scarlett Johansson took our name, band says Putin 'destabilizing' Ukraine, Kerry says Kazakhstan insists on objective investigation of Rakhat Aliyev's death Measles vaccination in Kazakhstan: safe or not? Bekman Soilybayev KOs Gomes at Fight Night MMA in California Samruk-Kazyna limits forex transactions of its subsidiaries Kazakhstani fighter Tleuov wins MMA tournament Hungary PM needs style change after poll setback: analysts Moody's downgrades ratings for scandal-hit Petrobras Russia confirms will use International Space Station till 2024 Nazarbayev summons meeting of Kazakhstan's Security Council Possibility of Nazarbayev, Putin, Lukashenko meeting discussed in Minsk Chris Brown says denied entry to Canada Sony Pictures names new head of movie group Obama vetoes Keystone pipeline bill Moscow lying 'to my face,' says Kerry Venezuela's ruling party targets new opposition leader Despite free album furor, U2 tops iTunes listening Iran nuclear deal 'is at hand': EU foreign policy chief Estonia shows off NATO ties at celebrations on Russian border New details of Aliyev's death emerge Vaccination against measles in Kazakhstan puts teenagers into hospital beds Fountain of Bakhchisarai to premier in Astana Opera in April Kazakhstan's biathlete wins silver at World Championship Kazakhstan's Aliyev received death threats in Austrian jail: media Could not keep Golovkin off and felt gutted: Murray after fight President Nazarbayev congratulates Golovkin on victory 5:0 Astana Arlans shutout victory over Argentina Condors Golovkin calls out Cotto for unification bout, Chavez bets $1 million on a KO Kazakhstan's Golovkin repeats Tyson's 19 KO record streak Chairman of Central Election Commission of Kazakhstan appointed USA, Kazakhstan sign deal on cooperation in criminal cases investigations Astana Opera to stage Romeo and Juliet for March holidays Kazakhstan's Rakhat Aliyev found dead in Austrian prison Nazarbayev appoints several ambassadors Kazakhstan's Constitutional Council to interpret early presidential elections idea 'Holy pig' festival draws thousands in Taiwan Russia talks up chances of Iran nuclear deal French president Hollande vows stiffer penalties for hate speech Australian PM Abbott accused of inciting ill-feeling West making little headway in Ukraine crisis: Lithuania FM 'Fifty Shades of Grey' stays on top at US box office Emboldened Obama embraces presidential power IMF approves 1.2 bn euro credit line for Serbia Google Wallet partners up to battle Apple Pay Taylor Swift officially world's top seller in 2014 Reuters Pakistan bureau chief dies in Islamabad

Kazakhstan's Samruk-Kazyna cutting expenses

Samruk-Kazyna National Welfare Fund will start cost saving, Tengrinews.kz reports citing the Fund's press-service. 11 Kazakhstan companies have already implemented the cost saving program.

"The group is expected to save around 70 billion tenge ($467 million) in three years. The fund's cost saving program was developed with the help of international consultants. All business processes, self-costs and other expenses of the companies were analyzed. The program is expected to improve the competitiveness and optimize the group's activities. The three-year program is being implemented by KazMunaiGas, Kazakhstan Temir Zholy, KazAtomProm, Kazakhstan Engineering, Samruk-Energy, KEGOC, KazpPochta, Kazakhstan Development Bank, SK-Farmatsiya, Damu and Samruk-Kazyna Fund," the press-service said.

KazakhTelecom and Kazakhstan Temir Zholy (national railroad company) has been working on cost saving since 2011 and has already produced some results. The telecommunications company saved 1.3 billion tenge ($8.7 million) in 2012. "Kazakhstan Temir Zholy is implementing the cost saving program. The expected effect of the 3-year program will make is 58 billion tenge ($387 million). Additionally, we will decrease the self-cost of our products and improve the activities' efficiency," head of Kazakhstan Temir Zholy Askar Mamin said.

Lowering the costs, KazPochta (national post service) counts on automation of its business processes. "We plan to cut human resources by means of the optimization. This will help improve efficiency and work quality. The wage pool makes 60 percent of the company's costs. Cutting it by 2-3 percent will give a significant economic effect. There are 16 thousand people working in our system. We plan to cut the staff by 2 percent every year," chairman of KazPochta Arken Arystanov said.

The Samruk-Kazyna group's costs are not always related to its production and commercial activities. Part of them is government payments. For example, the total amount of these expenses made around 301.2 billion tenge ($2 billion) in 2011 (178 billion tenge ($1.2 billion) in 2010). First of all, these costs are related to sponsorship and charity, subsiding passenger transportation, local communications losses and losses from oil and gas sales to the local market at low prices.

The group will separate accounting of incomes and expenses of commercial and non-commercial activities to adequately register every type of the costs in 2013. Besides, considering the multiple growth of expenses, on November 2011 the fund's board limited sponsorship and charity to 3 percent of the consolidated annual net profit, exclusive of second tier banks.

According to experts, cost saving projects should not be coming from above (should not be initiated by top managers). "Any company has space for cost saving. But savings should not be going downwards, but upwards. They lower the costs today and increase them tomorrow. Best option is to develop a program for stimulating personnel to save cost. Primary groups of the companies have to see a real benefit from that. In this case the program would work perfectly," independent director of Kazakhstan Engineering Oleg Kalugin said.
19 february 2013, 18:59
53 0
Поделиться:
Kazakhstan's Samruk-Kazyna cutting expenses
http://en.tengrinews.kz/userdata/news_en/2013/news_17127/thumb_m/photo_25515.jpg
http://en.tengrinews.kz/companies/Kazakhstans-Samruk-Kazyna-cutting-expenses-17127/
Write your comment
Please introduce yourself:
Inicate your e-mail (confirmation required):
You can also log in as:
Comment:
By pressing "Send" button, you express your agreement with the rules of comment section
Sea of candles marks 'magical' rally that shook Berlin Wall
Some 200,000 people joined a candlelight procession marking a watershed mass protest 25 years ago that helped bring down the Berlin Wall a month later.
4 005 0
The Eiffel Tower in numbers
The Eiffel Tower is the most visited monument in the world that charges for entrance. Here is a factfile on France's iconic building.
4 230 1
Berlin passion for 1940s fashion untempered by WWII hue
With her blotted red lipstick, perky coiffed curls and fitted 1940s skirt suit, Constanze Pelzer looks like she's stepped off a World War II film set. From head to toe, the 49-year-old German is the picture of 1940s elegance -- from the little glasses and striking jewellery to her red sling-backs, her entire outfit is authentic.
4 235 0
'Miracle' of the Marne: the WWI battle that changed history
At the start of September 1914, after just one month of war in Europe, the German army were at the gates of Paris. The word on the street was that Emperor Wilhelm II had already booked a dinner table on the Champs-Elysees.
4 280 0
Madagascar unleashes poisoned rain to break locust plague
The choppers swoop in, dumping insecticide over a plague-stricken village in Madagascar's stunning central highlands.
4 166 3
A day at the Met: opera for New Yorkers and the world
In a cramped backstage area at New York's Metropolitan Opera House, French mezzo-soprano Sophie Koch adjusts her 19th century dress.
14 778 1
Nazi past overshadows genius of Porsche
The name Porsche has long made sports car enthusiasts swoon but the Nazi past of the famous brand's founder has left his Czech hometown sorely divided over his legacy.
4 111 0
Paraguay group turns garbage into sweet melodies
Parents all over the world often complain about their children's music being garbage.
4 356 0
Most Read
Most Discussed
Today
Week
Month