Kazakhstan Approves New Rules for SME Disaster Compensation
The Ministry of National Economy has approved new rules for compensating small and medium-sized businesses (SMEs) affected by natural disasters in Kazakhstan. The order, effective 30 days from today, covers lost property, material values, and restoration expenses, excluding insured cases. Applications must be submitted within 180 days of the emergency situation.
Regional commissions under akimats will manage the process. They will register affected SMEs and determine compensation amounts. A registry will be formed within five working days of a commission's decision, listing property owners, compensation amounts, funding sources, and entrepreneur categories.
For damage up to 10 million tenge, compensation is based on average monthly turnover or income. For higher damages or involving equipment and real estate, assessment reports will be used.
The new rules aim to streamline compensation for SMEs affected by natural disasters. They cover a wide range of losses and ensure a swift registration process. The order comes into force 30 days from today, with applications accepted within 180 days of the emergency situation.
