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Funds Are Funneled from State Enterprises for Reducing Their Cost before Privatization – NABU

Audit: 
Wednesday, 03 February 2016 17:34

The state funds are funneled from state enterprises through offshores and fictitious companies for reducing their cost before privatization, UNIAN reports. It was informed by the press-service of the National Anti-Corruption Bureau of Ukraine (NABU) quoting the words of the director Artem Sytnyk.

“Why do we pay much attention to the corruption on state enterprises? Because of privatization. Currently funds are being funneled through offshores and fictitious companies, due to what the cost of state enterprises is being reduced for their further privatization. Our task is to stop it”, - he said.

In addition, according to Sytnyk, after the completion of privatization it will be required to conduct their revision. 

NABU Chairman also noted that the reduction of loss ratio of state enterprises evidences about progress in combatting corruption.

As UNIAN reported, on January 28, during voting the deputies of the Verkhovna Rada ensured endorsement of deputy’s draft law, which stipulates the introduction of amendments to privatization procedure, in particular, cancellation of obligatory sale on stock exchanges of 5-10% shares of strategic state enterprises during their privatization.

Minister of Economic Development and Trade Aivaras Abromavicius has repeatedly urged parliamentarians to endorse this draft law. According to him, he, in his turn, will promote transparent privatization.

The Minister also noted that the date of beginning of sale of state package of shares of one of the largest manufacturers of chemical products – Odessa Portside Plant – depends on this document. According to Abromavicius, in case of failure to adopt the draft law, the date of sale of OPP, 6 regional power distribution companies, central power distribution company and some heating and power plants will be rescheduled.

The loss of top 100 state companies in January-June 2015 reduced by 87% versus the same period of the previous year – up to UAH 5.8 bln

 

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