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Source: Government of Ukraine

A meeting with the leadership of the State Property Fund of Ukraine was held on November 12 under the chairmanship of Prime Minister Denys Shmyhal.

During the meeting, SPF Chairman Dmytro Sennychenko spoke about the subsequent steps in the privatization process and the interim financial results.

“The Government supports the privatization of state-owned enterprises and continues to pursue a policy towards a reduction of the role of the state in the economy. This is one of the thirty development vector initiatives that we presented together with the audit. Privatization reform is the maximum transfer of management of state-owned enterprises so that they operate in a market economy without political influence,” said Denys Shmyhal.

According to representatives of the State Property Fund, the state budget received UAH 1.9 billion from small-scale privatization this year. By the end of 2020, this amount will increase to UAH 2.3 billion.

The SPFU noted that they had changed their approach to the privatization process, increasing the number of participants by half. Thanks to the effective operation of the website (https://privatization.gov.ua/), bidders can participate in both the purchase of enterprises and other state property.

In addition, representatives of the Fund reported on the financial condition of enterprises managed by the Fund and on problematic issues that arise in the privatization process.

The Prime Minister instructed the Ministry of Finance, together with the State Tax Service, to work with the State Property Fund the restructuring of tax debts of enterprises, which will allow for improving the efficiency of privatization.

On the outcomes of the meeting, the Ministry of Economic Development, Trade and Agriculture should prepare shortly a bill to resume auctions for large-scale privatization.

MIL OSI Europe News