International experience in governance of state owned enterprises and parastatals

This report is a result of research and analytical work. It covers the areas of research requested by the GOK/MNE and include: (i) the rationale for state ownership; (ii) legal forms and objectives of SOEs and parastatals; (iii) establishing, maintaining, liquidating and divesting of SOEs and parastatals; (iv) the state's role and responsibilities as an owner; (iv) governance structures of parastatals and SOEs; (v) disclosure and transparency, including audit arrangements; (vi) SOEs in the market place, including funding and price regulation; and (vii) the role of governing bodies in SOEs and parastatals. The report is not a comprehensive diagnostic comparing standards and practices in Kazakhstan with relevant international benchmarks. It instead outlines some current practices in Kazakhstan and indicates areas for further consideration by policy makers which may help improve the structure of public ownership.