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Ukraine's State Property Fund submits to govt new draft law on privatisation - SPF Head

Ukraine's State Property Fund submits to govt new draft law on privatisation - SPF HeadUkraine's State Property Fund (SPF) has submitted a new bill on privatisation aimed at its optimisation and unification of procedures to Ukraine's Cabinet of Ministers, SPF Head Ihor Bilous said.

He said that the document would increase the term for holding auctions from 45 to 180 days to give investors enough time to make decisions and avoid the preliminary appraisal. The appraisal will be formed during the sale of facilities based on trends on the market.

"There would not be privatisation groups A, D, V, Zh, G and E – only large-scale and small-scale privatisation," Bilous said, adding that the only way to sell will be an auction.

He said the procedures would be relaxed as much as possible for small-scale privatisation to quickly sell non-liquid assets.

The bill annuls the pre-privatization preparation of enterprises by ministries. Heads of enterprises would be more responsible for the safekeeping of the property when decisions to privatise enterprises are made, Bilous said.
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