The former Prime Minister reported a record amount of cash among the population
Felix Kulov, the former Prime Minister, proposed the idea of financing the China-Kyrgyzstan-Uzbekistan railway through citizens' funds. He shared his thoughts on social media.
He noted that a large-scale infrastructure project is currently being implemented in Kyrgyzstan — the construction of a railway, which costs about 4.7 billion dollars. The planned completion time is 6 years, but there are plans to shorten it to 4 years. Kyrgyzstan's share in the project is 24.5%.
Kulov suggested that part of this share be made available to the people. The essence of the proposal is that the government could allocate, for example, 30% of its share and offer citizens to purchase named shares of the project.
With an even distribution, the basic package of shares could cost 4-5 thousand soms per adult, with the possibility of payment over 4-6 years. This would amount to about 60-90 soms per month.
This amount would be accessible to most citizens. To date, the population has a record amount — over 300 billion soms.
The proposed option would allow the country to:
- reduce external borrowing;
- decrease the debt burden;
- attract domestic investments;
- strengthen economic sovereignty.
Instead of paying interest to foreign creditors, the government could pay dividends to its citizens. If the project is successfully implemented, the expected return could be 15-25% per annum.
This would lead to:
- regular dividends;
- an increase in asset value;
- protection against inflation;
- long-term capital for families.
Mandatory conditions include:
- shares must be named;
- free market sale is not allowed;
- transfer by inheritance is permitted;
- buyback is only possible by the state.
This mechanism will protect the strategic asset from speculation and prevent concentration in the hands of a narrow circle of individuals. Every citizen of Kyrgyzstan will be able to become a co-owner of this important transit railway corridor, which will function for decades.
Similar models of involving the population have been used in Norway and Singapore.
We are capable of developing our unique model, adapted to local conditions. The main idea is not just to build a road, but to ensure that the people become its co-owners. Dividends should go not only to the budget but also to every family, and assets should be passed on to future generations so that such projects unite the country.
This proposal is open for discussion. I am ready to listen to the opinions of economists, lawyers, businessmen, and concerned citizens.
As they say, building a common future must be done together," Felix Kulov concluded.
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