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Efficiency of privatization is proven in years

Posted by the Editor on January 28, 2014


News / 28 January 2014 | 12:45

Efficiency of privatization is proven in years

Efficiency of privatization is proven in years

Over the past four years, privatized enterprises have paid three times more taxes. Selection of efficient owner is one of difficult, but achievable challenges faced by State Property Fund of Ukraine (SPFU), the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.
The legal entities paid 3.25 times more taxes than before privatization. The figures presented by Oleksandr Ryabchenko, SPFU Chairman, during the “National Interest” show on Banking TV. Following the efficiency analysis of privatization and activity of enterprises for the period of investment obligations under contracts, in 2010-2013, management efficiency of the companies was significantly increased. In particular, the Fund was checking the following values: taxes paid by enterprises in 2012 (compared to figures recorded in the last year before privatization), wage levels, number of jobs, and amount of investments in companies.
According to Ryabchenko, privatization was not launched for instant financial results. It is a process of finely tuned actions aimed to search for investor, who would be able to improve the efficiency of one company, as well, as is often the case, of the whole region. “Privatization should be carried out to improve performance of companies. This is its main goal. Not just for budget receipts, but for development of the enterprises. And, we having been doing the privatization, so that this goal is achieved, since 2010. We want investors who are ready to invest their money and interested in development, to go to companies,” the SPFU Chairman said. 

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