Kazakhstan to end partnership with large cos circumventing environmental and tax policies - Tokayev

ALMATY. Oct 5 (Interfax) - Kazakhstan will end partnerships with large companies that disregard environmental and tax policies and dismiss the need to modernize industrial infrastructure, President Kassym-Jomart Tokayev said.

"The government monitors tax compliance. If large industrial producers fail to meet these requirements, we will have to terminate the partnership. It is not meant as a threat, but a wish to work within simple, honest, and fair rules recognized throughout the civilized world", Tokayev said during a working trip to the Karaganda region.

He also said that "the era of oligarchic capitalism" in Kazakhstan is coming to an end, to be replaced by a period of social responsibility to the citizens of the country.

"Our citizens need an efficient and socially responsible business to take a leading role in the country's economy," Tokayev said.

"There are commitments, standards, and norms that must be strictly observed. The industrial development of the region should not come at the expense of the quality of life. The Ministry of Environment must have the issue under control," the president said.

President Tokayev also drew attention to the issue of creating safe working conditions.

"In 2022 alone, several fatal industrial accidents were reported at the facilities of ArcelorMittal Temirtau. Large companies must consistently invest in the modernization of industrial facilities. The regulators need to make companies face consequences for higher rates of occupational injuries," he said.