The former prime minister noted that citizens have accumulated an unprecedented amount of funds
Former Prime Minister Felix Kulov proposed to use the population's funds to finance the railway project connecting China, Kyrgyzstan, and Uzbekistan. He shared his opinion on social media.
According to him, one of the most significant infrastructure projects in the country is currently being implemented: the China-Kyrgyzstan-Uzbekistan railway.
This provides Kyrgyzstan with the opportunity to become a key transit hub between the East and the West.
The total cost of this project is approximately 4.7 billion US dollars. The initial implementation period is set for 6 years, but it is planned to reduce it to 4 years.
At the same time, Kyrgyzstan's share in the project is 24.5%.
Kulov suggested making part of this share public. What does his proposal entail? The state could allocate, say, 30% of its share and offer citizens to purchase named shares of the project.
If participation is distributed evenly, the amount of the basic package could be around 4,000–5,000 soms for each adult, with the possibility of repayment in equal parts over 4–6 years. This would amount to approximately 60–90 soms per month.
This approach would be accessible to most people. By the way, at the moment, the population holds a record amount — over 300 billion soms.
Implementing this initiative would allow the state to:
- reduce external borrowing;
- decrease the debt burden;
- attract domestic investments;
- strengthen the economic independence of the country.
Instead of paying interest to foreign creditors, the state could distribute dividends among its citizens. If the project reaches a strategic transit volume, the expected return could be 15-25% per annum.
This implies:
- regular dividend payments;
- increase in share value;
- protection against inflation;
- long-term investments for families.
At the same time, certain conditions will apply:
- shares must be named;
- they cannot be freely sold on the market;
- they will be inheritable;
- buyback will be possible only by the state.
This approach will help protect strategic assets from speculation and their concentration in the hands of a limited circle of individuals. It will give every Kyrgyz citizen the opportunity to become a co-owner of the transit railway corridor, which will operate for decades.
Similar models of involving the population have been successfully applied in Norway (to accumulate national wealth for future generations) and Singapore (through state investment funds).
We can develop a unique model adapted to our conditions. The main concept is not just to build a road but to ensure that the people become its co-owners and receive dividends, so that this asset is passed down from generation to generation, uniting the country.
Kulov assured that this proposal is open for discussion and he is ready to listen to the opinions of economists, lawyers, businessmen, and simply concerned citizens.
"If we want to build a common future, we need to do it together," he concluded.
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