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The Mazhilis approved a bill to reduce the debt burden of citizens in the first reading

Astana, March 6, House of the Mazhilis. Today, the deputies of the Mazhilis at the plenary session approved in the first reading amendments on minimizing risks in lending and protecting the rights of borrowers. This series also includes the draft law "On Science and Technology Policy" with a related draft and amendments to the Tax Code on science.

Legislative amendments on minimizing risks in lending and protecting the rights of borrowers were initiated by parliamentarians. Mazhilis deputy Unzila Shapak noted that the bill was developed in accordance with the instructions of the Head of State to reduce the debt burden of the population, voiced in the Message "The Economic Course of a Fair Kazakhstan".

– In order to prevent an increase in the debt burden of Kazakhstanis who already have problem loans, a ban is being introduced on the provision of unsecured consumer loans to those citizens who are overdue on loans for more than 90 days. In addition, a ban is being introduced for banks and MFOs to charge remuneration after 90 days of delay for all valid (outstanding) consumer loans," Unzila Shapak informed.

The deputy also said that the sale by banks and MFOs of loans to citizens to collection agencies is proposed to be made possible only after 24 months from the date of the delay and after the lender has carried out settlement procedures. At the same time, a direct obligation is introduced for collectors to carry out debt settlement procedures for purchased loans to individuals.

To limit the excessive growth of the debt burden, the concept of consumer credit is introduced by law, which will allow at the regulatory level to limit its maximum value: for banks – 5 million tenge, for MFIs – 2 million tenge. In addition, access to the bankruptcy procedure for loans is facilitated for Kazakhstanis.

Unzila Shapak said that the bill also introduces the obligation of the banking ombudsman to settle disputes not only on mortgage loans, but also on all loans of citizens. As an additional measure to protect the interests of borrowers, within the framework of enforcement proceedings, a ban is imposed on eviction from the only housing during the heating season of families with minor children.

– Another area is the reduction of loan fraud. The bill introduces the right of citizens to establish a voluntary refusal to receive loans. A ban is being introduced for banks and MFOs in granting a loan to an individual in the presence of such a refusal. Along with this, the obligation of creditors to write off debts on loans issued by citizens during the period of voluntary refusal to receive a loan is established," said Unzila Shapak.

Following the results of the debate, the Mazhilismen decided to approve the bill in the first reading.

The draft law "On Science and Technology Policy" with accompanying amendments also passed the first reading. They were presented to the deputies by the Minister of Science and Higher Education Sayasat Nurbek. According to him, the main draft law provides for legal norms aimed at improving the management model of science, regulating the activities of the Science Foundation and determining the legal status of the National Academy of Sciences.

– The new status of the Academy has been determined in the form of another non–profit organization - the highest scientific organization. It is also proposed to expand its functions for the examination of scientific and technical tasks for competitions of program-targeted financing, analysis of priority areas of science development. A separate article has been developed to strengthen the functionality of JSC Science Foundation to assist in the implementation of business acceleration, technological business incubation and brokerage," said Sayasat Nurbek.

After hearing the report, the deputies pointed out some flaws in the bill. In particular, the chairman of the Committee on Ecology and Nature Management, Edil Zhanbyrshin, noted that the new law does not provide specific tools to ensure transparency in the allocation of funding, and the problem of excessive bureaucracy has not been solved. The Majilismen also stated that the draft law does not contain enough new conceptual norms capable of giving a new impetus to the development of science. The members of the working group will have to fill in these and other gaps by the second reading.

Deputies approved in the first reading legislative amendments to the Tax Code on science initiated by parliamentarians. Chairman of the Committee on Socio-Cultural Development Askhat Aimagambetov said that the bill is aimed at stimulating the development of science by providing tax preferences.

In particular, it is proposed to deduct 100% of the funds spent on the opening of research centers at research universities and conducting development work.

– In addition, it is proposed for private companies to reduce the taxable amount by 50% of the amount of expenses spent on development work. That is, if entrepreneurs, scientific organizations or universities introduce the results of their scientific research and development work into production, then half of these expenses will be deducted when determining taxable income, Askhat Aimagambetov explained.

The draft law also considers mechanisms to ensure the effectiveness and transparency of tax preferences.

In addition, the Mazhilis agreed with the amendments of the Senate to the Law "On Amendments and Additions to some Legislative Acts of the Republic of Kazakhstan on business issues."

Nursultan Baytilesov, representing the AMANAT party faction, became the new Mazhilisman. Today, he took the oath of office as a deputy of the Mazhilis and was elected to the Committee on Legislation and Judicial and Legal Reform.

At the end of the plenary session, the Mazhilismen sent 15 deputy requests to the responsible state bodies on topical social and economic topics. All of them are available on the official website and Telegram channel of the Mazhilis.


The press service of the Mazhilis - 24-38-22. Photo by J. Zhumabekova, T. Tanybaeva

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