Ukrainian President Volodymyr Zelensky signed law No. 8250, which will allow the State Property Fund (SPF) to resume big privatization and make state property management more efficient by improving the SPF structure.
“The law on the updated structure of the State Property Fund has been signed by the president. The document will improve the organizational structure of the fund: 12 regional branches of separate legal entities will become structural divisions of the SPF. This will create a mechanism for the establishment of market salaries and CRI in all regions and will increase the efficiency of state property management, “- wrote the head of the SPF Rustem Umerov in Facebook on Tuesday.
He recalled that the document also contains provisions for the resumption of large-scale privatization, improving the procedure for managing the sanctioned property, increasing the lease term of state property up to five years.
According to the norms of the law, by the decision of the VAKS, the sub-sanctioned property will be transferred directly to the SPF and the proceeds from the sale will be sent to the Fund for Liquidation of Consequences of Armed Aggression.
Umerov thanked the president, the government and MPs for supporting this important initiative.
Earlier, it was reported that after the mentioned law enters into force, the SPF will independently make managerial decisions on the unsanctioned property: privatization, sale, lease or management.
The law bans unsanctioned individuals and citizens of aggressor countries from holding positions as heads of state-owned companies and members of supervisory boards, and cancels the procedure for obtaining approval from local authorities for directors of state-owned companies that are managed by the SPF.
After the enactment of the law the department expects the increase of income from renting state property by 20-25%, or 100 million UAH per year, as well as the improvement of leased property.
On 30 May, the Rada supported the bill #8250 by 231 votes of people’s deputies with the required minimum of 226 votes.
