Rada fails to back bill on unblocking large-scale privatization campaign

The Verkhovna Rada, Ukraine's parliament, has failed to adopt draft resolution No. 4543-P to abolish the bill passed on March 30 to unblock a large-scale privatization campaign in the country.

Read alsoLarge-scale privatization fails in 2020 over coronacrisis, PM saysA total of 49 lawmakers backed the draft resolution at an extraordinary meeting on April 13, with the required minimum being 226 votes, according to an UNIAN correspondent.

Large-scale privatization: Background

• On March 30, the Verkhovna Rada passed a draft law in the second reading and as a whole to unblock a large-scale privatization campaign in Ukraine.
• Earlier, the Ministry for Development of Economy, Trade and Agriculture noted that the move would allow launching preparatory measures (such as holding auctions) before the actual sale of major state owned enterprises (SOEs).
• Also, the ministry believes, this would bring as much as UAH 12 billion (US$428 million) to the national budget, as well as raise significant investment.
• After quarantine restrictions were imposed in March 2020 to counter the spread of the coronavirus, all preparations for the sale of major facilities within a large-scale privatization campaign were suspended. Previously, five to six such auctions had been scheduled to be held in 2020, but none ultimately took place.
• The 2021 national budget has laid down UAH 12 billion in privatization revenue, with the lion's share of proceeds to be expected from the large-scale privatization campaign.