Cabinet asks SPF to get USD 400 mln by end-1Q09 from privatization

The Cabinet of Ministers yesterday approved the list of state-owned companies to be privatized in 2009, with many of the names carried over from the 2008 list: Ukrtelecom (UTEL), Odesa Portside Plant, Lvivoblenergo (LVON), Prykarpatoblenergo (PREN), Chernihivoblenergo (CHEON), Sumyoblenergo (SOEN), Odesaoblenergo (ODEN), and Turboatom (TATM). The Cabinet requested the State Property Fund, which is responsible for overseeing the privatization process, obtain UAH 3 bln (about USD 407 mln) by the end of 1Q09 from auction proceeds. According to the government’s economic plan, privatization proceeds, in addition to revenues from bond sales, will be directed into the newly created stabilization fund.