SPF head initiates creation of Privatization Code

SPF head initiates creation of Privatization CodeHead of the State Property Fund of Ukraine (SPF) Ihor Bilous has initiated the creation of the Privatization Code – a package of basic documents regulating all the fund's operations including sales of state-owned property, leasing, corporate management, and the coordination of appraising activities.

"Now the number of documents regulating the operation of the fund is too large, there is confusion and they often are at odds with each other," Bilous wrote on his Facebook page on Wednesday.

He said that the code could be made public by the end of next year if financing is found and work on its creation starts immediately. The code could be used irrespectively of who is in power or who heads the fund.

Bilous said that an interagency working group with the participation of international organizations – the European Bank for Reconstruction and Development (EBRD), the International Monetary Fund (IMF), International Finance Corporation (IFC) and USAID – has been created at the level of the cabinet. The group is discussing and analyzing the privatization list, the conditions of privatization, the starting prices and the general situation regarding the process and facilities. The working group has carried out express analysis of possible improvements regarding the management of companies that are being prepared for privatization.

The SPF, jointly with the Infrastructure Ministry of Ukraine and with the help of U.S. Treasury specialists, is drawing up the basis for the new law on concession.

Bilous said that the privatization is not a goal in itself and its core task is to improve the investment climate in the country.

Source: Interfax-Ukraine
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