Parliament adopted Government bill on privatization

10.11.2017 16:08 "Agro Perspectiva" (Kyiv) — As of yesterday, the Verkhovna Rada supported within the first reading the draft law of Ukraine «On the Privatization of State Property» elaborated by the Cabinet of Ministers of Ukraine in synergy with international experts and approved by the National Reform Council under the Ukrainian President within the framework of the reform of state property management. 258 lawmakers voted for the aforesaid decision, Government Portal reports. As to the report, the bill constitutes the basis for creating a system for transparent sale of government assets, most of which were put into operation in the last century, and defines the main provisions of this process. A landmark innovation of the document is the definition of the dispute procedure, which enables the possibility of appeal to the International Commercial Arbitration Court and the conduct of the case following the principles of the English law rules. As to the report, present within the session hall, Ukrainian Prime Minister Volodymyr Groisman emphasized that there are currently 3.5 thousand State-owned companies within Ukraine and added that it is a nonsense for the country, because these companies are unprofitable for the state, however still being a feeding trough for some officials. Amendments to the legislation will make it possible to improve the situation, attract new owners and technologies, and create new jobs.

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