The Finance Department of the Pavlodar Region has put 49% of the shares of JSC "Pavlodar Airport" up for auction. 
According to the electronic trading platform, the shares of JSC "Pavlodar Airport" are intended to be transferred to trust management for a period of three years with the possibility of subsequent purchase.
The starting price for the 49-percent stake is 1,076,464,473 tenge. 
It should be noted that the sale of shares does not mean the direct sale of the airport itself, but implies the transfer of the right to manage the facility and its assets.
At the same time, the potential shareholder, who, incidentally, must have at least five years of experience in a similar industry, undertakes during the trust management period not only to ensure the efficient operation of the facility but also to invest at least 16.4 billion tenge in the modernisation of the airport.
The upgrades must include lengthening the runway and reconstructing the passenger terminal, modernising the boiler house or installing independent heating for the terminal building, major repairs of fuel and lubricant warehouses and the kerosene tank, as well as upgrading specialist vehicles and equipment.
The tender includes obligations to maintain the airport's workforce and comply with environmental standards.
During the term of the trust management, the potential owner is obliged to repay the existing accounts payable of JSC "Pavlodar Airport", including debt, interest, fines and dividends, in proportion to its share. Other details related to the debt were not specified in the lot description.
At the same time, according to the portal kompra.kz, it is known that the joint-stock company has debts under enforcement proceedings totalling more than 9.5 million tenge.
In the event of refusal to purchase the shares after the completion of trust management, the buyer will have to pay a fine of 15% of the sale price.
The start of the auction was scheduled for 18 December.
The sale of shares of "Pavlodar Airport" is not just an economic decision but a serious step towards transferring an important infrastructure facility into private hands, which is being carried out as part of the comprehensive privatisation plan for 2021-2025.
The plan is aimed at reducing the state's presence in the economy, optimising the public sector, and improving conditions for private enterprise. It also involves developing infrastructure and increasing competitiveness through the effective use of private capital investment.
On the other hand, the question of how safe it is to entrust strategic facilities to private investors, who, whilst undertaking to modernise them, may at the same time place their own commercial interests above those of the public, remains relevant.
For context, in August, the government approved the transfer of 100% of the shares of JSC "ATMA – Atyrau Airport and Transportation" to the Qatari company "QazAir Investments LLC".
In November, the akimat of the Kostanay Region conducted a similar tender for the transfer to trust management of 49% of the shares of JSC "Kostanay International Airport named after A. Baitursynov" for a period of five years with the possibility of subsequent purchase.
Furthermore, on 25 October, the validity period of the airworthiness certificates for the Kostanay aerodrome expired, which limits its use for the take-off and landing of civil aircraft.
A similar situation was observed at the airports of Astana city and the village of Urzhar, where the validity periods of the certificates expired on 24 December and 29 November respectively.