June 19, 2007 | Rada Adopts 2007-2009 Privatization Program
The Verkhovna Rada has endorsed the 2007-2009 privatization program.
A total of 229 lawmakers supported draft bill No.3512 on the state program of privatization for 2007-2009 as a whole, with 226 votes required for approval.
The draft bill calls the sale of unprofitable enterprises for restoration, high-liquidity enterprises for meeting budget requirements concerning privatization revenues, and the sale of small stakes and unfinished construction projects as 2007-2009 privatization priorities.
Meanwhile, the sale of shareholdings or property complexes of high-liquidity companies for filling the budget, under the Cabinet of Ministers' proposal, should proceed only at tenders with auction elements without buyer's investment commitments, while choosing the buyer only on the basis of the price offered for the enterprise.
The Verkhovna Rada endorsed the need for including in the terms of the tender for the sale of unprofitable enterprises business plans for their financial recovery.
In keeping with the proposed wording of the privatization program, sealed as national property can be only strategic for the economy and security of Ukraine facilities, terms for the tender on the sale of the strategic and defense facilities working in investment attractive area being endorsed by the Cabinet of Ministers.
In keeping with the document, the Cabinet of Ministers must endorse before the end of the year a list of facilities to be privatized next year, which must guarantee coming of the privatization revenues planned in the national budget.
As Ukrainian News reported, the current privatization program was endorsed in 2000 for a term of until 2002