A. Yatseniuk: Transparent privatization and effective management to help resolve issues of budget revenues and employment

Transparent privatization of state property and the effective management of privatized property can help to solve the problem of budget revenues and employment issues, said the Prime Minister of Ukraine Arsenii Yatseniuk at a meeting of the European Association Monday, March 3.

Arsenii Yatseniuk stressed that in the current situation in Ukraine we should get rid of state property: "It is used inefficiently, it is always stolen and it's always enclave of corruption."

In addition, he said, it will bring revenues to the state budget that are now critically needed to Ukraine: "It's a few billion dollars."

Arsenii Yatseniuk stressed that the Government will require effective management of privatized property: "If there is effective management of the property, so we will have solution of employment problem, the state's revenue."

"I haven’t seen any style of privatization accept the most transparent. In essence, a form of a public auction is only acceptable," the Prime Minister said.

"My idea is to privatize the energy sector," he added.

According to Arsenii Yatseniuk, Naftogaz Ukraine is absolutely untransparent monster that controls the huge flows of cash and which is, in fact, a quasi-ministry of finance."

He noted that a number of companies that are part of Naftogaz should be sold at transparent auction and "to stop the endless corruption that exists in the national energy sector."

Arsenii Yatseniuk also stressed that the National Electricity Regulatory Commission has become an independent body, "which should to de-monopolize the activities of each energy company that should be privatized and become property of private investors."