The draft law "On amendments to some legislative acts of Ukraine concerning improvement of corporate governance of legal entities, in which the state is a shareholder (founder, participant)” is planned to consider shortly at a session of the Cabinet of Ministers and aftermath to submit to the Parliament.
This was stated by Vice Prime Minister of Ukraine Volodymyr Kistion, who heads the working group whose responsibility is to speed up the reform of the NJSC Naftogaz of Ukraine, the members of which [the group] had been developing the bill.
"The working group has drafted a bill on improving corporate governance of state-owned companies. Now in synergy with our international partners we are working to finalize the draft and we soon will have the document being considered at the Government meeting", stressed Volodymyr Kistion.
He told that with this bill there was also being prepared another document to the Cabinet of Ministers’ attention – the draft order "On approval of Basic principles of the realization of the State’s ownership right regarding the NJSC Naftogaz of Ukraine.
"Except the bill, which applies not only to Naftogaz, but also other public companies, we have elaborated one more document – the so-called "ownership policy" in respect of Naftogaz, which clearly determines the corporate governance mechanisms, the results expected from the activities of the company. We are planning these two documents - the bill and the draft "ownership policy" will be considered as a package by the Government", said Vice Prime Minister.
Volodymyr Kistion drew attention to that fact that both blueprints had been developed by the working group set up to accelerate the reform of the NJSC Naftogaz of Ukraine with constant participation of the international partners.
"We have been long working on the documents and prolong our activity to achieve the maximum consensus possible in the vision of line ministries and central executive authorities, as well as our international partners – the EBRD, the World Bank, the EU’s Energy Community. But, first and foremost, these documents should protect the interests of our citizens and our State", summed up Volodymyr Kistion.