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Nasalyk says the ministry has made efforts to ensure that the supervisory boards' formation is as transparent and clear as possible.
The state-owned operator of Ukraine's united power grids, Ukrenergo, has released its official position regarding the progress in the company's corporatization and its next stage, namely the inventory and assets valuation.
"Yesterday, on October 22, Ukraine's Energy and Coal Industry Ministry held a meeting with representatives of international financial organizations (EBRD, USAID, United States Department of Energy Office at the U.S. Embassy in Ukraine, the European Investment Bank in Ukraine, the EU Delegation to Ukraine, and the Energy Community) chaired by Minister Ihor Nasalyk to discuss issues of the state-run company's corporatization, namely Ukrenergo," the company's press service said in a statement on October 23.
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During the meeting, Nasalyk noted that the ministry had made efforts to ensure that the supervisory boards' formation is as transparent and understandable as possible. As an example, Ukrenergo Supervisory Board was fully constituted in accordance with European requirements and standards and approved by order No. 520 of October 19, 2018. At the same time, the minister pointed out "shortcomings" in the company's corporatization, including the postponement of the inventory and discrepancies in the documents submitted as to the assets valuation, which led to the negative conclusions by the Ukrenergo corporatization commission.
"Despite the fact that Ukrenergo was not invited to the meeting, we cannot but mention positive changes in the process of corporate governance reform and express our hope for further constructive interaction with the ministry and approval of terms of contracts related to the Supervisory Board members for the proper launch of their work," the press service added.
At the same time, Ukrenergo insists that the documents submitted to the corporatization commission are valid, as they were forwarded in accordance with periods determined by the law and agreed by responsible authorities.
"Namely: inventory results were agreed by the commission and approved by the Energy and Coal Industry Ministry; the valuation report of Ukrenergo's assets was drawn up by an independent evaluator and reviewed by the State Property Fund of Ukraine; and the transfer balance sheet was prepared by the enterprise and certified by an independent auditor.