Cabinet proposes liquidating guarantee fund for fulfilling obligations on grain storage documents

17:35, 04.01.2016 1 min read

The Cabinet of Ministers has proposed the parliament liquidate the guarantee fund for fulfilling obligations on warehouse documents for grain as an institution that does not meet the expectations of the grain market participants.

Corresponding bill No. 3735 was registered in the parliament on December 28, 2015.

According to an explanatory note, public organizations and market participants started sending complaints about the imperfection of the norms of this document following the publication of the law on amendments to some laws of Ukraine regarding the guarantee fund for the implementation of commitments on warehouse documents for grain.

The remarks concerned a number of provisions that could create pressure during business activities and entail the weakening of competition in the agricultural sector.