Terms of privatization of key state assets extended / Photo from UNIAN
The Cabinet of Ministers has extended the terms of privatization of key state assets until July 31, 2016, which were previously planned to be sold before the end of 2015.
Government decree No. 819 relates to the sale of 99.5% of Odesa Port-Side Chemical Plant (OPCP), 78% of PJSC Centrenergo, 99.9% of PJSC Sumykhimprom, as well as 65% of OJSC Kharkivoblenergo, 60% of OJSC Zaporizhiaoblenergo, 70% of PJSC Mykolaivoblenergo and PJSC Khmelnytskoblenergo, and 50% of Ternopiloblenergo.
As UNIAN reported earlier, these companies had to be put on sale until December 2015. However, in the summer of this year, the government decided to change the approach to privatization in order to make trades transparent and interesting for foreign investors. At the same time, the Cabinet agreed that the terms of privatization would be changed. For this purpose, in October, the Cabinet of Ministers allowed to attract advisers to the procedure of privatization of some state-owned facilities, including OPCP, PJSC Sumykhimprom and PJSC Centrenergo state holding. In addition, the Cabinet submitted to the Verkhovna Rada a draft law stipulating new approaches to privatization, one of which would be the abolition of the mandatory sale of 5% stake in state-owned companies on the stock exchanges.
Read alsoYatsenyuk expects privatization of Odesa Port Plant to bring over $1 bln in revenues According to Chairman of Ukraine's State Property Fund Ihor Bilous, the adoption of the necessary legislative framework and the practice of involving advisors will allow for large-scale privatization in 2016 and a nearly UAH 30 billion income.