“Big privatization”: the Government of Ukraine will continue the sale of state-owned enterprises of the country

Prime Minister of Ukraine Denis Shmygal announced in his telegram channel about the decision of the Cabinet of Ministers to approve a bill to abolish the ban on the sale of large privatization assets during quarantine.

“The government has approved a draft law proposing to unblock the ‘big privatization’ in 2021. Namely, to remove restrictions on the sale of a number of objects”, – the prime minister said.

In particular, the Cabinet of Ministers proposes to privatize five thermal power plants, three oblenergos, the Bolshevik plant, the Odessa port plant, the United Mining and Chemical Company and the President Hotel.

According to the Prime Minister’s forecast, the planned sale of state-owned enterprises will make it possible to increase budget revenues by UAH 12 billion.

“In 2021, we want the privatization process to accelerate. The ambassadors of the G7 countries also support the government on the path of transparent and profitable privatization for the state”, – summed up Denis Shmygal.

Large privatization was one of the promises made by Ukraine to the IMF. By the end of the year, the State Property Fund was to announce tenders for the sale of at least two large state-owned companies. Three more were to go on sale in the first half of 2021. They talked about the Odessa Port Plant, Centrenergo, the Electrotyazhmash enterprise, the Krasnolimanskaya Coal Company, the President Hotel and the titanium company OGHK.

“Big privatization”: the Government of Ukraine will continue the sale of state-owned enterprises of the country