The Cabinet of Ministers of Ukraine has extended the final terms of selling shares in energy companies, Odesa Port-Side Plant, Sumykhimprom and Ivano-Frankivsk Locomotive Repair Plant at a tender by six months.
The decision is stipulated in cabinet resolution No. 819 of Oct. 7, 2015.
As reported, on October 9 the State Property Fund of Ukraine (SPF)
said that the Cabinet of Ministers was forced to extend the plan to
privatize state-owned enterprises from 2015 until 2016.
The reason for the extension of the privatization process by the SPF
is the slowdown of transferring objects to the SPF for privatization.
Another factor is that the Verkhovna Rada has not approved all the
legislative changes that are needed to start privatization. In
particular, the Verkhovna Rada has not considered draft law No. 2319a
amending the law on state property privatization and on the State
Property Fund. This bill will prevent the access of buyers from Russia
to privatization, while traders in securities will have to submit
information on persons in whose interests they buy state corporate laws.
The bill also removes the norm on the compulsory sale on stock
exchanges of 5-10 percent of shares in B and D group objects up to holding a
tender and will allow the SPF to involve advisers in the privatization
process.
