Unlocking large-scale privatization will attract UAH 12 billion to the state budget – People’s Deputy

Removing restrictions on selling large state-owned enterprises will attract UAH 12 billion to the state budget, which is exactly the amount included in the budget for 2021.

People's Deputy Roksolana Pidlasa stated this on March 11 during a round table "Unlocking large-scale privatization to attract sustainable investment in Ukraine's economy."

In turn, Deputy Minister of Economic Development, Trade, and Agriculture of Ukraine Svitlana Panaiotidi noted the Cabinet continued to pursue the course of privatization of non-core assets.

"All non-strategic, inefficient, and unprofitable enterprises should be privatized at transparent auctions. Despite quarantine restrictions, today we see tremendous interest from investors. Thus, due to small-scale privatization in 2020, the state budget received revenues from the SPFU for almost 2.3 billion hryvnias. It is time to move on to the next stage, passing a law that will allow to launch large-scale privatization auctions and finally get a chance for their restoration and development," the Deputy Minister said.

She also stressed the need to be consistent and also support the draft law 4572 "On Amendments to the Law of Ukraine 'On the State Property Fund of Ukraine'" and other legislative acts of Ukraine to promote investment in the privatization and leasing of state and municipal property, developed by deputies, together with experts from the SPFU, Prozorro.Sales and the Ministry of Economy. This should help speed up privatization processes by improving the institutional mechanism of privatization.

Also, read: The Cabinet of Ministers will transfer 8 state-owned enterprises to the State Property Fund for privatization.