Kazakhstan to run a large-scaled campaign to raise financial awareness of population at large

Kazakhstan will run a large-scaled campaign to raise financial awareness of population at large, following today’s instructions voiced by the country’s PM Karim Massimov at a government sitting mostly focused on the People’s IPO Program. “The People’s IPO Program should reach out to as many common people as possible. However, the government should make it clear that every individual bears the risks related to his or her investments”, the PM said when addressing to the Program’s coordinators. “All the basics of the Program should be conveyed to people in a clear understandable language”, he emphasized. Only 26% of Kazakhstan’s population are aware of what the so-called People’s IPO is about, PM Massimov had earlier said at the sitting focused on the H1 2011 economy results July 21. Speaking at the Nur Otan party congress on February 11 President Nazarbayev instructed the Government to launch Initial Public Offerings (IPO) for common people before the end of 2011. The program is known as People’s IPO. According to President Nazarbayev, the IPO for the general public will enable citizens to purchase shares of the largest Kazakh companies, giving them a new tool for investments and savings. August 4 Tengrinews.kz quoted Economy Minister Kairat Kelimbetov as saying that the major slogan of the Kazakhstan’s economy policy for the nearest 5 years is large-scaled privatization . “(…) Privatization will be run in two stages”, according to Mr. Kelimbetov. At the first stage, that is in 2012-2015, Kazakhstan will launch the so-called People’s IPOs of national companies. Afterwards, some national holdings will be floated to attract strategic global investors".