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Rada's passing law on privatization will allow to start it in H1, 2016

Rada's passing law on privatization will allow to start it in H1, 2016The adoption by the Verkhovna Rada of bill No. 2319a-d will allow to start the privatization of large enterprises in the first half of this year, the Ministry of Economic Development and Trade has reported.

"The adopted law protects the national interests of Ukraine and allows to start privatization in the first half of the year," the press service said citing senior adviser to the minister Adomas Audickas.

The ministry said the bill abolishes the mandatory sale through the exchange of 5-10% in enterprises prior to privatization, bans individuals and legal entities from the aggressor country from participating in privatization, allows the government to involve advisors in privatization, expands requirements for the disclosure of information on potential buyers and allows to settle disputes concerning the objects of privatization in the international court of arbitration.

As reported, the Verkhovna Rada has passed a law that would allow the government to begin the privatization of large state-owned enterprises.

Some 252 deputies voted for the adoption of bill No. 2319a-d as a whole.

Bill No. 2319a-d was developed by the deputies to replace similar bill No. 2319a developed by the Cabinet.

The Verkhovna Rada has been trying to pass this bill since November 2015. Minister of Economic Development and Trade Aivaras Abromavicius has repeatedly stated the need for the adoption of this law.

The government planned to start privatization of large enterprises with Odesa port-side chemical plant, as well as put energy supply companies and energy generating company Centrenergo up for privatization.
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