Government plans to set up holding to manage state companies by year-end

Ukraine`s Ministry of Economic Development and Trade plans to establish a holding for management of state-run strategic enterprises by the end of the current year, according to Olena Diachenko, the head of the Economy Ministry`s State Property Management Department.
”We hope that the holding will be established this year. Its structure will depend on objectives and a concerted position of all ministries` representatives,” Diachenko told reporters.
It is very important to ensure that executives of the holding will be free from any political influence, therefore senior managerial personnel should be formed from independent directors, according to Diachenko.
Diachenko also pointed to the importance of carrying out an independent audit for the effective management of state companies.
At the same time, Roman Ilto, the advisor to Ukraine`s Economy Minister, who was also present at the press conference, said that information about audits of state-run companies will soon be published on the ministry`s website.
”We have two group of companies that we classify as large-sized companies, and that should undergo audits according to international standards. The first group includes 45 companies which assets are estimated at over UAH 2 billion with net income of more than UAH 1.5 billion. According to our data, 24 companies from this list have already been audited or are undergoing audits. The second group consists of 97 companies with assets worth more than UAH 250 million. Out of this group, 23 companies are undergoing audits,” he said.
As UNIAN reported earlier, the International Monetary Fund is supportive of the Economy Ministry`s plans to set up state holdings with a view of grouping and managing state assets, including by attracting foreign analysts and managers.
The issue  on establishing state holdings in Ukraine was raised in 2015. However, the government cannot still reach a consensus about what principles are to be used when creating such holdings.  

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