Ukrainian parliament refuses to cancel privatization law

Ukrainian parliament refuses to cancel privatization law

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Ukrinform
The Verkhovna Rada, Ukraine's parliament, has refused to cancel the decision on the adoption of the law on the privatization of state property (No. 7066).

Only 11 deputies voted for the adoption of the respective draft resolution, No. 7066-P, regarding the cancelation of the decision of the Verkhovna Rada of Ukraine of January 18, 2018 on the adoption as a whole of the bill on the privatization of state property, an Ukrinform correspondent reports.

Such a decision by parliament enables Verkhovna Rada Chairman Andriy Parubiy to sign the adopted law and submit it for signature by Ukrainian President Petro Poroshenko.

As reported, the law on privatization was approved by the Verkhovna Rada on January 18, 2018. The document was supported by 266 people's deputies.

The goal of the document is to significantly improve, simplify and reduce privatization procedures in order to achieve high pace of privatization, transparency and openness of the privatization process, and attract a wide range of investors to purchase state property.

If an object of privatization is put up at an auction with a decrease in the starting price for the first time, the starting price is reduced by the auction commission by 25%. If the object of privatization is put up for sale at an auction with a decrease in the starting price for the second time, the starting selling price is reduced by the auction commission by 50%.

The document was adopted at first reading on November 9, 2017. The adoption of the privatization law is one of the main requirements from the IMF to grant Ukraine the next tranche.

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