Nazarbayev instructs to modernize metallurgic industry

Kazakhstan President Nursultan Nazarbayev met with deputy Prime-Minister and Minister of Industry and New Technologies Asset Issekeshev, Tengrinews.kz reports citing the President’s official website. Issekeshev reported on the results of implementation of the Program of Accelerated Industrial-Innovative Development in 2012, as well as on the current situation in the mining sector. According to the President’s press-service, the President stressed that all 537 facilities established as part of the Program have to be fully functioning, and sell their produce both locally and abroad. “Tau-Ken Samruk company was established for development of the mining sector, while KazGeology is working on reviving the country's geology. These are important sectors that had not been developed. Kazakhstan is rich with natural resources, and exploration and production of minerals would give a big prospect to development of the mining sector,” Nazarbayev said. He emphasized the necessity to perform further modernization of the metallurgic sector to retain its growth pace. Deputy Prime-Minister said that the country’s GDP went up 22 percent between 2008 to 2012, mainly thanks to implementation of the industrial program. “The highest growth was registered in the processing industry, in mining, engineering, chemical and pharmaceutical sectors. Based on the results of the first quarter of 2013, the engineering sector grew 21 percent, production of construction materials grew 14 percent and light industry grew 7 percent. But production growth in metallurgic sector is slow because of a decline in the global demand and lowering of prices,” Issekeshev said.