KARAGHANDY (1)

Date: 2015-10-07; view: 560.

A grand monument – two figures of miners, holding a lump of coal above their heads – is the symbol of Karaghandy. This stone made the basis of industrial complex here. Karaghandy region provided various parts of the former USSR and more than 50 countries of the world with over two thousand types of products. Karaghandy Metallurgical Complex, known as Kazakhstan Magnitka is the town's glory. The multistory complexes of the town, the big tops of blast furnaces of Temirtau, a five hundred-kilometre ribbon of the Irtysh- Karaghandy canal are the result of creative work of the builders from this town. The town has got four institutes, a university, different secondary schools, over 50 secondary schools. There is a local Academy of Sciences of Kazakhstan branch, a symphony orchestra, folk theatres and playhouses there.

Today the town experiences great difficulties in different spheres of life. The crisis of market economy has lead to stagnation and decrease of the leading industry in the area. For the past few years half of the enterprises in Temirtau and Karaghandy have stood fully or partially idle. The level of unemployment is high; the volume of production went down by 50%. The economic situation has forced the administration of the town to choose new methods of management.

In 1995 the government started to place insolvent enterprises like “Ispad Karmet” under the management of foreign firms. The managing companies have stopped the downfall of production and straightened up the financial position of the enterprises in the area. Another urgent measure was set up by the government to support state-run sector of economy. In 1996 a rehabilitation bank was instituted to effect measures on financial recovery of the industry. These measures have lead to the first signs of stabilization in the region. The volume of production of the plants has begun to grow gradually, the enterprises have started to pay the debts and salaries to the workers. Citizens of Karaghandy believe in the revival of their rich land and hope to overcome today's difficulties.

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1. Karaghandy Metallurgical Complex is known as ...

2. The crises of market economy ...

3. The level of unemployment is ...

4. Another urgent measure was ...