State Material Reserves: Government approves new procedure for release and sale of material assets

The Government has approved the Resolution “On Approval of the Procedure for Release of Material Assets of State Reserves”. It introduces new mechanisms for the release and sale of material assets stored in state reserves. It also defines how the state can use its reserves if necessary.

The new procedure establishes the following:

How the reserves are released.
Material assets can either be released free of charge to those who need them (for example, for strategic needs, humanitarian aid, etc.) or sold through open electronic auctions in the ProZorro.Sales system.

When and to whom they can be released.
It has been determined who can receive these stocks and in what cases, as well as the terms of sale, determination of the auction winners - everything has a clear procedure.
What documents are no longer valid.

The Resolution recognizes as invalid the old rules that no longer comply with modern legislation.

In particular, the Resolution of the Cabinet of Ministers of Ukraine No. 1078 of August 25, 2004 “On Approval of the Procedure for the Sale of Material Assets of the State Reserve” was declared invalid.

"This procedure is an important step that regulates the use of state reserves by the Government. It makes the process transparent and understandable for the public," said Deputy Minister of Economy Vitalii Kindrativ.

This procedure will make it possible to use state reserves efficiently and in accordance with the procedure established by law, taking into account the needs of society, which, in turn, will ensure security and stability.