Legislation being prepared to bring Motor-Sich back under Government control

Legislation being prepared to bring Motor-Sich back under Government control

A bill that would allow the Ukrainian government to take Motor-Sich, Ukraine’s top-leading manufacturer of air engines, back into state ownership is awaiting to be formally submitted for consideration at the Verkhovna Rada soon.

"This week we are going to submit to parliament a draft legislation on nationalization of Motor Sich. As you know, [individual] Chinese companies have come under sanctions. This is a matter of the country’s ability to defend itself. The legal status of this company needs to be streamlined," said David Arakhamiya, the head of the Servant of the People party faction, the Economichna Pravda (Economic Truth) outlet reports.

This would be "part of the situation in relations with China; negotiations must be held,” he added.

"But I think we need to get the bill formally submitted to parliament because the company’s legal status is not yet fully defined. Tens of thousands of people are employed there; they are requesting us that the status and future of this enterprise should be defined," said the leader of the ruling party fraction.


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