The Government's decision on the establishment and functioning of independent supervisory boards in the state-owned companies will lead to the fact that each important public enterprise will be successful, open, transparent, clear and will ensure its beneficial impact on the domestic economy, Prime Minister of Ukraine Volodymyr Groysman said while considering a series of decisions on reform of corporate governance of state-owned enterprises at the Cabinet’s session on Wednesday.

Commenting on the presentation of the legislative package by First Deputy Minister of Economic Development and Trade of Ukraine Yulia Kovaliv, the Prime Minister stressed that net losses from state-owned enterprises in 2015 had amounted up to UAH 64 billion.

“The sum worth UAH 64 billion is at stake. Can you imagine only in 2015 the situation began to change. And the result for the previous decades is billions of losses to the State budget, unpaid wages, unpaid pensions, new planes, ships, factories bought at these funds and so forth."

Volodymyr Groysman stressed that such supervisory boards in state-owned enterprises would facilitate curbing corruption.

"The setting up of supervisory boards will entail reducing losses and return to the profitability to fill the State budget," the PM stressed.