Ukraine's economy ministry initiates audit at state-run Ukrspyrt, Agrarian Fund

Minister Mylovanov posted a respective order on Facebook.

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Ukrainian Minister of Economic Development, Trade and Agriculture Tymofiy Mylovanov says the ministry has instructed its internal audit department to conduct an extraordinary audit at two state-owned enterprises – Ukrspyrt and the Agrarian Fund.

Read alsoUkraine to launch two programs to support farmers – minister

"An extraordinary internal audit will be conducted at Ukrspyrt and the Agrarian Fund, whose heads were fired or suspended [from their duty] yesterday," he wrote on Facebook on October 25, having posted a respective order.

As UNIAN reported, the economy ministry earlier suspended Ukrspyrt acting head Yuriy Luchechko and appointed Serhiy Bleskun to the post. The ministry also suspended Chairman of the Agrarian Fund's Board Andriy Radchenko.

UNIAN memo. State-run Ukrspyrt, a monopoly on the Ukrainian market of alcoholic beverages, was created on the basis of the concern in 2010. Ukraine's Cabinet of Ministers has consistently advocated the sale of Ukrspyrt, guided by the recommendations of the International Monetary Fund (IMF), Ukraine's key lender. In May 2016, the Cabinet initiated the exclusion of the state-run company from the list of enterprises banned for sale. However, the Verkhovna Rada. Ukraine's parliament, has not yet decided on the issue.

State-run Agrarian Fund was created in 2013. The company is in charge of grain purchases under forward contracts to support Ukrainian farmers. It not only buys and sells grain, but also markets flour and cereals.

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