Photo from UNIAN
In total, the government plans to sell more than 900 state-owned companies.
The State Property Fund of Ukraine (SPF) has approved a list of almost 660 small-scale privatization facilities that are subject to sale in 2018.
The list includes Lviv plant "Avtonavantazhuvach" ("Forklift Trucks"), Novyi Rozdil mining and chemical enterprise "Sirka" ("Sulfur"), Stebnitske mining and chemical enterprise "Polymineral," Industrial Glass Company, and Ternopil Radio Plant "Orion," SPF head Vitaly Trubarov wrote on Facebook on March 28.
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As UNIAN reported earlier, the Verkhovna Rada of Ukraine passed the bill on privatization of state property on January 18, 2018. Ukrainian President Petro Poroshenko enacted it into law in early March.
The main objective of the document is to facilitate the privatization process by simplifying the classification of privatization facilities into small- and large-scale objects.
The law also provides for the extension of the list of privatization objects, shortening the terms of the sale, the possibility of issuing a bank guarantee, and unifying the ways of selling state property.
Moreover, international advisers will be involved in large-scale privatization, while small-scale privatization will be carried out via electronic trading.
Small-scale privatization refers to real estate objects and small enterprises, while the group of large privatization objects includes facilities whose assets exceed UAH 250 million (US$9.4 million).
In addition, the terms of preparation for the sale of objects were reduced from the current 9-12 months to four-five months, whereas the deadlines for submitting applications by potential buyers were extended from 20-45 days to 20-180 days.
The state budget for 2018 provides for UAH 21.3 billion ($802.6 million) in privatization proceeds. In total, the government plans to sell more than 900 state-owned companies.