PM Honcharuk says government's privatization strategy for state enterprises to ensure industrial development.

The sale of unprofitable state-owned enterprises, or the so-called "large-scale privatization," is one of the government's priority programs.

Oleksiy Honcharuk

Oleksiy Honcharuk

Ukrainian Prime Minister Oleksiy Honcharuk says the government believes that state-owned strategically important enterprises should be sold wholly or partly, as the general condition of most of them is unsatisfactory, while the relevant strategy is ready for each such enterprise.

Read alsoPrivatization 2020 – last chance for modernization

"For people, the industry is a symbol of the country's development. But a huge part of the industrial sector has not been upgraded for the time being. Many companies used the [resources] deterioration model. Why? Because a huge share of industry is in state ownership. Each [appointed] CEO set own management, depleted [the resources], and they actually cut and pulled everything out, concluded unprofitable contracts, put them [the enterprises] into debt, etc. Therefore, a huge number of large state-run enterprises have been brought to a completely miserable and terrible state," he told the Ukrainian online newspaper Ukrayinska Pravda on February 10.

According to Honcharuk, industrial development is an important indicator of the country's economic growth for society, as this symbolizes the availability of jobs, wages and citizens' solvency. Therefore, the sale of unprofitable state-owned enterprises, or the so-called "large-scale privatization," is one of the government's priority programs since there is a request for it among Ukrainians.

The prime minister says gradual privatization is the only way to revive such enterprises. He also assured that the government has a clear strategy for each of the assets, in particular, for such important and controversial state-owned enterprises as Ukraine's power generating company Centrenergo, the national railway operator PJSC Ukrzaliznytsia, the country's largest chemical giant Odesa Portside Chemical Plant, etc.

Related news

Ukrainian business receives UAH 8B under Affordable Loans program – Marchenko.

Since the launch of the state program "Affordable Loans at 5-7-9%", Ukrainian entrepreneurs have received loans worth about UAH 8 billion, Finance Minister Serhiy Marchenko has said.

1

PM says it’s realistic to get GDP growth at 4.6% next year

Prime Minister of Ukraine Denys Shmyhal believes that GDP growth at 4.6%, which is included in the draft state budget for 2021, is completely realistic.

1 1

Hryvnia weakens to U.S. dollar on Sept 21

The official forex rate against the euro for Monday is fixed at UAH 33.35 per euro.

Extended border closure another obstacle for Alberta Indigenous tourism industry.

Indigenous tourism was growing in Alberta before the pandemic hit. Now, many operators hope their doors will still be open when travel restrictions ease.

PM Shmyhal: Government working on measures to facilitate Ukraine's economic recovery.

Shmyhal announces work on measures to facilitate Ukraine's economic recovery / REUTERSUkraine's Cabinet of Ministers is working on measures that will help facilitate the country's economic...

1 11

Agricultural production in Ukraine almost 10% down in eight months.

Both agri-businesses and private farmers reduced production.

Banker Pysaruk accuses NABU of lack of professionalism and pursuing its own agenda.

Oleksandr Pysaruk / Photo from UNIAN‘NABU has demonstrated that it lacks professionalism and is pursuing its own agenda in the case against Pysaruk and Bakhmatyuk by pressing baseless charges...

Bakhmatyuk sums up losses from ‘a year of war’ waged against him by NABU: 9,000 jobs and 0.

Oleg Bakhmatyuk / Photo provided by the press serviceOne year into NABU's war against Bakhmatyuk, his company has lost more than the value of assets abandoned in the occupied Crimea and Donbas...

Lawmaker: 2021 budget draft has no caps on state-guaranteed debt, public debt may skyrocket.

Preparations of the draft budget for the first reading are about to start on September 18.

Finance minister elaborates on IMF's position on 2021 budget draft.

Active discussion of the document with Ukraine's key lender is under way.

By continuing to browse World News (UAZMI), you acknowledge that you have read the Terms of Use and agree to the use of cookies