11:53 17.11.2015

New state companies management system to be based on independent directors - Yatseniuk

New state companies management system to be based on independent directors - Yatseniuk

State-run enterprises remain a wet-nurse and the font of corruption in the country, but the government plans to change the system to manage them and build it up on the basis of independent directors, Ukrainian Prime Minister Arseniy Yatseniuk has said.

"State-owned companies of a strategic importance are to remain in state ownership, but the management system there is to be fully changed. Independent directors, presenting not the interests of the state, but the interests of the state-run company, who are responsible for this, are the basis for forming the new state companies management system," he said while speaking at the international anti-corruption conference in Kyiv on Monday.

He said that the pilot project is the reformation of national joint-stock company Naftogaz Ukrainy and its subsidiaries.

Yatseniuk said that corruption remains in state-owned companies, as the parliament is blocking the government's attempts to continue the privatization process and introduce independent directors.

He said that he ordered checks on 20 largest state-run companies, including Naftogaz Ukrainy, Energoatom, Electrotyazhmash and Odesa Port-Side Plant.

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