On February 19, there will be announced the terms of participation in the contest for the appointment of new Directors to chair state-owned companies the Electrotyazhmash, the Ukrenerho, the Centrenerho, the Ukrspyrt and the Ukrposhta. The second stage includes the Ukrtransamiak and the United Mining and Chemical Company. Prime Minister of Ukraine Arseniy Yatsenyuk said at the Government session on Thursday, 18 February.

Arseniy Yatsenyuk reminded that the Government had proclaimed the basic principles of public political activity: "These contain zero tolerance for corruption and zero tolerance for any intervention in the work between branches of power. They must act solely in accordance with the Constitution and to ensure the transparent and democratic interaction between the Government, the Parliament and the President. As it is written in the Ukrainian Constitution and laws. A transparent, honest and responsible policy".

"The third principle is the real implementation of all the reforms crucial for the country. Reforms of the State Fiscal Service, the Ukrainian Customs Service and state-owned companies", he stressed.

The Government has adopted a decision to establish an independent Nominations Committee, which through transparent and open competitions shall select leaders for 50 largest public companies, reminded the Head of the Government. He expressed gratitude to the MPs who had supported a new law on management of state-owned property objects: "Actually today the Parliament has taken a landmark decision to create a new system of effective management of state-owned property objects of the country."

This bill which was developed by the Government, Arseniy Yatsenyuk stressed, "is a new policy in the management of public companies": "This implies complete depoliticization of the work of heads of state-owned companies, the establishment of an independent Supervisory Board of each state company, public approval of all investment programs and access to the entire public reporting on the financial condition of such state-owned companies, including utility companies".

Arseniy Yatsenyuk informed that the adoption of the aforesaid law on the management of state-owned companies and today's resolution of the Cabinet of Ministers of Ukraine enabled to announce the following day the terms of participation in the contest for the appointment of heads of several state-owned companies: the Electrotyazhmash, the Ukrenerho, the Centrenerho, the Ukrspyrt and the Ukrposhta.

Those wishing to participate in the contest should apply from 19 February during the following 30 days.

The Prime Minister also instructed the Ministry of Economic Development and Trade to prepare the contest terms for the second stage to launch the process of appointing heads of another two companies – the Ukrtransamiak and the United Mining and Chemical Company.

Arseniy Yatsenyuk appealed to "all professional managers in the country" to apply for participation in the competition.

"This is a first package, when instead a political figure or politically committed person from this or that political force or party will be appointed through the transparent and fair competition by the independent Nominations Committee seven Directors to chair several largest state-owned enterprises in the country," he said.

Arseniy Yatsenyuk also emphasized that the Government had completely changed the remuneration system for Directors of state-owned companies: "It now depends on the financial results and economic efficiency of heads of such state-owned companies".

"Pursuant to the new law, the management of state-owned companies will be completely deprived of any political interference or political pressure and would be liable to the state for the results of their activities and their economic efficiency", stressed the Head of Government.

Arseniy Yatsenyuk also added that the law on the management of state-owned companies had been adopted despite the fact that "two factions of the coalition which signed the coalition agreement, which assumed commitments at the time of adoption of the Programme of Activities for the Cabinet of Ministers of Ukraine to reform state-owned property objects, have failed to vote and have failed to support with a single vote one of the most systemic reforms in the country": "This law was supported with 251 MPs. This means that if we work together, we can carry out reforms".