: :inin Kyiv (EET)

Ukraine`s property fund drafts new privatization bill to sell smaller companies via ProZorro

The State Property Fund of Ukraine (SPF) together with the Economic Development and Trade Ministry have drafted a bill on privatization, providing for the sale of small-scale companies on e-platforms, such as ProZorro.Prodazhi, head of the State Property Fund Ihor Bilous told a press conference.

”Under this bill, we are introducing two groups of assets. These are large enterprises and small ones. The large-scale enterprises will be sold exclusively with the participation of advisors, while small ones – via an electronic platform,” he said.

The SPF head reported that the group of small-scale companies set for privatization includes real estate and small businesses; whereas the larger scale companies` assets exceed UAH 250 million, or US$9.2 million.

Bilous went on to say that appraisers will no longer be involved in the process of privatization, and the cost of the facilities will be set by the market.

”The bill shortens the sale preparation period from the current 9-12 months to 4-5 months and increases the period for lodging applications by potential buyers from 20-45 days to 20-180,” he said.

Deputy Minister of Economic Development and Trade Maksym Nefyodov, who also attended the press conference, noted that the sale of small assets through the State Property Fund was bureaucratized for the time being.

”It is easier for an investor to buy real estate in the market than through the State Property Fund. Therefore, we want to simplify the procedure, and we already have a mechanism. Back in November, we started the joint project with the Individual Deposits Guarantee Fund to sell the assets of insolvent banks using the ProZorro.Prodazhi system,” he said.

Earlier, the project manager of ProZorro Oleksiy Sobolev said that the Economic Development and Trade Ministry together with the State Property Fund planned to simplify the procedure of preparation of state property for its further sale via the ProZorro.Prodazhi system.

In February 2017, the head of the State Property Fund Ihor Bilous told UNIAN that under the draft law, the agency intends to abandon the appraisers` services in forming a starting price for the privatization of state-owned assets.


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