Wednesday, September 2, 2015

Reform of railway sector in action in Ukraine: corporatization of Ukrzaliznytsia to take place

At a Government meeting on Wednesday, September 2, Prime Minister of Ukraine Arseniy Yatsenyuk announced that there is due "a fundamental change in the management system, real transparency and the fight against corruption inside the Ukrzaliznytsia company”.

"Finally, the Ukrzaliznytsia will get rid of an old corruption-based component and the Soviet model of functioning and will be turned into a state-owned company capable to provide quality services for both citizens of Ukraine and Ukrainian companies," he stressed.

The Head of Government sees corporatization as positive for the Ukrzaliznytsia "not just from the point of view of service improvement and transparency of this company": "A public joint-stock company the Ukrainian Railways should become a driving force for the Ukrainian economy".


The Deloitte audit firm has completed the valuation of the assets the State Railway Administration Ukrzaliznytsia, which amounted over UAH 245 billion.

The Ministry of Infrastructure of Ukraine emphasize that the changes are aimed at liberalisation of the railway conveyance market and the introduction of a market model of functioning of the sector. According to officials, the corporatization process will end in registration this autumn of a public joint stock company with 100% shares belonging to the state.


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