OREANDA-NEWS. March 24, 2011. President of Ukraine Viktor Yanukovych demands immediate approval of a new state privatization program, he said speaking at meeting of the Governing Council of the Committee on Economic Reforms.

According to him, "privatization, if organized properly, will not only provide resources for reforms, but additional tens of billions of Hryvnias of income for the state budget.”

"This is a tool to enhance efficiency of enterprises, productivity growth and long-term resource base in the form of additional taxes," he said.

According to Viktor Yanukovych, there are currently hundreds of unprofitable enterprises owned by the state.

"I demand this direction set as priority of the Government’s work. We need to get rid of this ballast," he said, addressing the Prime Minister of Ukraine.

Viktor Yanukovych also urged the officials "not to relax”, despite the fact that this year’s privatization plan is formally met due to the sale of Ukrtelecom.

"I think that the tempo of reforms in privatization and state property management is unsatisfactory. The outdated legal framework of privatization has been failing for a long time to meet the needs of the present. That is why I insist on approving a new state privatization program and making the appropriate alterations to the law urgently," he said.

The President noted that the necessary bills have already been developed by the State Property Fund of Ukraine; they are well prepared, have a logical structure and meet challenges of the ownership reform.

"I would like to underscore: only a limited list of companies should remain in the state ownership, which provide for it carrying out its core functions, and ensure national and economic security. All the rest must be prepared for selling," he said.