The program for the creation of a regional stabilization fund
«Ertis» SEC» JSC - a specialized organization for the formation of a regional stabilization fund of food products.
The purpose of creating stabilization funds is to smooth out seasonal fluctuations in prices for basic types of food.
The stabilization fund is used to exert regulatory influence on the agri-food market, ensure food security when there is a threat to reduce the physical availability of food products and increase the food stability of the region.
Stabilization fund
- is formed from the list of socially significant food products approved by the Government of the Republic of Kazakhstan No. 145 dated 03/01/2010.
- the list and volumes of goods are determined annually by the Commission according to the data of the working body (the Department of Agriculture and the Department of Entrepreneurship and Industrial-innovative development)
- the decision to use the fund is made by the akim of the region on the basis of the Commission's decision indicating a fixed price and volume.
On June 24, 2011, the decision of the State Commission on economic modernization of the Republic of Kazakhstan approved a mechanism for financing social and entrepreneurial corporations for the subsequent formation of regional stabilization funds, at the expense of a budget loan issued by «KazAgro» NMH» JSC.
In 2012, in accordance with paragraphs 7-8 of the Decree of the Government of the Republic of Kazakhstan dated October 09, 2012 No. 1280 “On the Approval of the Rules for the Formation and Use of Regional Stabilization Funds of Foodstuffs”, with the Department of Entrepreneurship and Industrial-innovative Development, an agreement was signed on the procurement of services for the formation and use regional stabilization fund of food products under "Formation of regional stabilization funds of food products" budget program according to specificity 149 (other services and work) in the amount of 1,117,392,000 tenge.
According to the decision of the Commission, the list, volumes and prices of purchased food products for the Stabilization Fund are determined. This list includes the following products: potatoes, carrots, cabbage, beets, onions, rice, buckwheat, sugar, sunflower oil, beef meat.
7,500 tons of fruits and vegetables were purchased (including potatoes - 3,550 tons, cabbage - 1,550 tons, carrots 900 tons, beets - 250 tons, onions - 1,150 tons) in the Stabilization Fund of the East Kazakhstan region for the off-season 2017-2018.