Verkhovna Rada unblocked large-scale privatization

On March 30, 2021, the Verkhovna Rada adopted in the second reading and as a whole the draft law on unblocking large-scale privatization.

Draft Law No. 4543 "On Amendments to Section V "Final and Transitional Provisions" of the Law of Ukraine "On Privatization of State and Communal Property" received the support of 257 MPs from different factions, which was an excellent example of consolidation of various parliamentary forces around the economic interests of Ukraine.

The State Property Fund welcomes the consistent decision of MPs, which opens the way for the first auction of large-scale privatization since the sale of Kryvorizhstal at the large-scale privatization auction in 2005.

In June 2021, the State Property Fund plans to put up for privatization one of this year iconic objects – JSC "First Kyiv Machine-Building Plant" (plant "Bolshevik").  Among other large-scale privatization objects planned to be privatized the current year: 6 oblenergos, JSC "United Mining and Chemical Company" and "President Hotel".

In 2021, the plan of revenues to the State Budget from privatization is set at the level of UAH 12 billion, and its implementation directly depends on unblocking of large-scale privatization, which can provide revenues at the level of UAH 9 billion.

Large-scale privatization is a powerful driver of the economy, which on the one hand fills the budget and reduces the volume of external borrowings, and on the other hand, ensures the transfer of non-core assets to a new effective owner, thus creating conditions for their new life.

The law on unblocking large-scale privatization will come into force after the signing by the President of Ukraine and publishing in official printed publications.