Thursday, January 28, 2016

Ukrainian parliament supports in 1st reading bill to facilitate grand privatization

The Verkhovna Rada intends to cancel the compulsory sale on the stock exchanges of 5-10% of the shares during the privatization of state-owned enterprises, according to an UNIAN correspondent reporting from the session hall.

Amending the SOE privatization procedure, the proposed bill aims to abolish the existing regulation on an obligatory sale of 5-10% of the companies’ shares stock exchanges.

The bill also regulates the involvement of advisers in the process of privatization of strategic enterprises. Head of the parliamentary committee on economic policy Andriy Ivanchuk noted that the counselors will be only be involved during privatization of strategic enterprises from group "G" at the expense of the state budget, funds from international organizations and other sources not prohibited by law.


Minister of Economic Development and Trade Aivaras Abromavicius has repeatedly called on parliamentarians to support this bill. According to him, he, in turn, will contribute to the top transparent privatization.

The minister also noted that on the adoption of this document depends the date of the beginning of the sale of state-owned shares of one of the largest manufacturers of chemical products - the Odessa Portside Chemical Plant.

The residents of the aggressor state shall not be allowed to take part in a privatization process, according to the proposed draft law.



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