Ukraine's Cabinet plans to earn $451 million from large-scale privatization this year

Source : 112 Ukraine

The State Property Fund promises to implement this plan
15:58, 14 September 2021

Open source

This year, the Ukrainian government intends to receive budget revenues of $451 million from large-scale privatization. Prime Minister Denys Shmygal said so during a press conference.

“In general, there are a lot of objects for small and large privatization. Last year and this year, there were hundreds of objects of different scales. This year we plan to receive $451 million from large-scale privatization, in particular, in the budget. The State Property Fund promises to implement this plan, and while we expect this implementation,” the Prime Minister said.

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According to him, 12 objects are planned to be sold this year. However, six thermal power plants were transferred from the State Property Fund at the disposal of Naftogaz in order to prepare and go through the heating season. Shmygal noted that when the work and the issue of debt at those enterprises are settled, respectively, privatization will be continued, but it will not be this year.

“Accordingly, six thermal power plants are leaving the process of large-scale privatization, while other objects are included in the privatization list. The Ministry of Economy and the State Property Fund are also preparing this together. As for the joint mining and chemical company, a competition was prepared for August 31, unfortunately not all participants, there were 19 applications from different participants, both Ukrainian and foreign, not all had time to prepare. In this regard, the State Property Fund and the Ministry of Economy decided to postpone the competition for two months,” Shmygal said.

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He noted that the competition will take place in November, and it will be one of the largest objects of large-scale privatization this year, the starting price of which is $139 million.

As it was reported earlier, on August 2 Prime Minister Denys Shmygal instructed the Ministry of Economy together with the State Property Fund to prepare a list of objects for privatization for 2022-2023 within a month.

The Prime Minister also noted that by the end of 2020, revenues from privatization amounted to $85 million.

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