The State Property Fund has developed a draft law on the privatization of which will radically change the privatization process in Ukraine.
The State Property Fund (SPF) of Ukraine submitted to the Cabinet of Ministers a new draft law “On privatization” aimed at its optimization and standardization of procedures, said the Head of department Igor Bilous at a press conference.
According to him, the document, in particular, will increase the duration of the auction from 45 to 180 days to provide investors with enough time to make an informed decision and get away from the pre-assessment, allowing the market to generate it during the sale.
“No more groups (objects of privatization),”A”,”D”,”B”,”M”,”D”,”E”- only large and small-scale privatization”, – said Bilous, adding that the only way to sell remain competitive – auction.
He said that in the case of small-scale privatization is supposed to simplify the sales procedures to quickly get rid of illiquid assets.
The bill also requires the rejection of pre-privatization preparation of enterprises of the Ministry, to deprive them of the reasons to delay the transfer for privatization, and the introduction of personal responsibility of heads of enterprises for the safety of the property after the decision on the privatization, said Bilous.
