The Cabinet of Ministers of Ukraine plans to create a National Welfare Fund over the next five years, as well as liquidate more than 1000 inefficient state enterprises.
This is stated in the Government’s program of action.
“We will create the National Welfare Fund, which will take over the management of strategic state enterprises. The creation of the Fund will allow centralizing management, increasing its effectiveness and providing Ukrainian citizens with an adequate level of return on their assets,” the draft resolution says.
According to the document, the government will promote the development of the private sector, which is “more productive and efficient than the state one”.
“We will carry out the privatization, which will allow transferring hundreds of public sector entities to efficient owners, who will create new jobs and eliminate corruption. This will allow ministries to focus on policy making rather than property management. More than 1,000 inefficient enterprises will be liquidated. The state will no longer spend taxpayers’ funds to support inefficient unprofitable enterprises,” the document emphasizes.
The Cabinet also sets itself the goal of reforming the system of managing state enterprises according to modern international standards.
“We will create supervisory boards at strategic enterprises, which will ensure effective and transparent corporate governance. Each enterprise will have an understandable purpose of staying in state ownership, as provided for in the property policy,” the draft resolution says.
As The Journalist reported, Ukraine’s Cabinet adopts Government’s Action Program.
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