Kazakhstan to solve embezzling of crude oil profits

Apr 03, 2002 02:00 AM

Akezhan Kazhegeldin, the former prime minister of Kazakhstan, said that he wanted to work to ensure the proper use of oil revenues as part of an overall effort to democratise the country. The present government is embezzling a substantial share of the profits earned from crude oil exports, Kazhegeldin charged.
He said the way to combat this phenomenon was to establish a special organization with the support of foreign energy companies working in Kazakhstan. This organization, which would be known as the People's Oil Front, would seek to prevent the government from continue to appropriate oil export revenues.

He indicated that he believed it was useless to confront the government about the matter since those in power were interested only in maintaining their positions. Kazhegeldin has frequently found himself at odds with Kazakhstan's President Nursultan Nazarbayev and other high-ranking officials in Astana since losing his post.

Source: NewsBase
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