PM requires Energy Ministry to immediately transfer Centrenergo's shares to State Property Fund

Prime Minister of Ukraine Arseniy Yatsenyuk addressed Minister of Energy and Coal Industry Volodymyr Demchyshyn at a government meeting on Wednesday, July 8: "The Government of Ukraine demands that you immediately transfer shares of Centrenergo to the State Property Fund of Ukraine, as envisaged by the resolution of the Cabinet of Ministers."

The Prime Minister has urged Volodymyr Demchyshyn to explain his failure to transfer a stake in Centrenergo to the State Property Fund of Ukraine. The Minister referred to technical impediments.

"I deem technical obstacles are created deliberately to not let the company Centrenergo be privatized", the Prime Minister underlined.

"Decision on transparent and public privatization of facilities is a reform and the image of Ukraine. I insist that a transparent, public, competitive privatization, which involves real investors and not Ukrainian oligarchs conspired with the Government, the State Property Fund or the authorities – be implemented this year. This is the image and reputation of the state," he emphasized.

The Prime Minister stressed that privatization of Odesa Port Plant, Centrenergo and other energy companies should be carried out in the most transparent manner, "under the principle of who gave the ultimate price": "We must know that behind this company stands a real foreign investor, but not some Ukrainian oligarch."

"We should attract investors. Without investment there will be no economic growth. Without economic growth there will be neither salaries nor pensions. Investors makes it possible to increase gross domestic product, run economic mechanisms, make more money for the budget and allocate more money, including "social needs," he said.

"I demand the implementation of the decision of the Cabinet of Ministers of Ukraine on privatization of objects, defined by the Government, and on conducting a competitive and transparent privatization of the property," Arseniy Yatsenyuk stressed.

The Prime Minister also pointed out that it was adopted the decision of the National Security and Defense Council to conduct antitrust investigations of the whole electricity market.