REUTERS
The ministry expects the first sale of facilities in the first quarter of 2020.
Ukrainian Deputy Minister of Economic Development, Trade and Agriculture Taras Vysotskyi says the ministry has revised downward the forecast for revenue from the sale of Ukraine's state-owned distillery, Ukrspyrt, to UAH 2 billion-UAH 3 billion (US$83.5 million – UAH$125.3 million), which is 50% down from the figure expected at the Ukrainian President's Office.
Read alsoPresident Zelensky enacts law to remove one of obstacles to large-scale privatization in Ukraine
"Objectively, taking into account [Ukrspyrt's] condition, we estimate this [distillery] at UAH 2-3 billion. Unfortunately, the earlier announced indicators were overestimated," he said at the presentation of the Ukrspyrt audit results in the Cabinet of Ministers on December 3.
Vysotskyi also noted the ministry's plans to fully complete the sale of Ukrspyrt's facilities by July 1, 2021.
"The main thing, i.e. the entry into force of the law and the launch of the privatization [campaign] [should be] before July 1, 2020. Then there will be another year, until July 1, 2021, when there will be a ban on the construction of new distilleries. So, another 10%-20% of unsold facilities may remain, and there will be time to complete it," he said.
"We hope for the first sale of facilities in the first quarter of 2020," Vysotskyi added.
As UNIAN reported earlier, according to the Presidential Office's estimates, revenue from the sale of Ukrspyrt may reach about UAH 5 billion (US$208.9 million).
According to the economy ministry, budget losses from the shadow alcohol market may reach UAH 10.5 billion (US$438.6 million).