Former Prime Minister Proposes Involving Citizens in Financing Railway Construction

Сергей Мацера Economy
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Felix Kulov, former Prime Minister, has proposed an initiative to involve the citizens of Kyrgyzstan in financing the construction of a railway connecting China, Kyrgyzstan, and Uzbekistan. In his opinion, this can be achieved through the mechanism of purchasing registered shares, which will ensure that dividends are received directly by Kyrgyz citizens rather than foreign financial institutions. He announced this on his social media, publishing a corresponding post.

Kulov noted that the total cost of this large-scale infrastructure project is $4.7 billion, with Kyrgyzstan's share in the project amounting to 24.5 percent. He suggests that the government allocate 30 percent of its share for citizens, which would allow each adult Kyrgyz citizen to purchase a basic package of shares for 4,000-5,000 soms. Furthermore, if the possibility of installment payments over several years is considered, the monthly contributions would amount to only 60-90 soms, which is quite affordable for most citizens, given that the savings of the population of Kyrgyzstan exceed 300 billion soms.

According to the former Prime Minister, the implementation of this idea will reduce the country's dependence on external loans and strengthen economic sovereignty. Instead of paying interest to foreign creditors, Kyrgyzstan will be able to distribute dividends among its citizens, which, according to forecasts, could reach 15-25 percent annually when the railway begins to operate at a strategic level.

To prevent speculation with shares, Kulov proposes to make them registered and prohibit free sales. The repurchase of shares will only be allowed for the state, while the right to transfer shares by inheritance will be preserved.
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