New privatization law approved

UKRAINE - In Brief 18 Jan 2018 by Dmytro Boyarchuk
Today parliament finally approved new law on privatization. This law is among the IMF requirements. The key features of the law include (a) introduction of independent investment advisors that accompany sale of large state owned enterprises, (b) sale of small stakes of state property through Internet platform, (c) streamlined procedures for open auctions, (d) possibility to resolve disputes related to privatization in international courts. The law is definitely a very positive move which will simplify potential privatization process. However, it does not secure more active privatization on the horizon (political will is still critical for state property sale). What’s more, law on privatization now is seen relatively minor achievement amid repeated IFI’s demands about anti-corruption court. In fact, we see that the authorities are extremely reluctant to move on with the law on anti-corruption court. The IMF criticized the law on anti-corruption court President Office submitted to the parliament. President Office does not look to accept this critique. Against this backdrop we should be ready to see progress on alternative reforms (including gas prices increase) which will be suggested as compensation for stalled anti-corruption measures.

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