Public joint-stock company Ukrnafta on July 7, 2016 will hold a meeting of its shareholders where they will discuss the proposal of the supervisory board to introduce a financial readjustment plan and settle the problem of a UAH 11 billion tax debt to the budget, Naftogaz Ukrainy Board Chairman Andriy Kobolev has said.

"Ukrnafta's supervisory board today decided to start preparations for financial readjustment… The final decision to start the process would be made at a meeting of shareholders. It will be held on July 7," he said at a briefing in Kyiv on Tuesday after the meeting of the supervisory board.

Earlier Kobolev said that he backs the introduction of the readjustment plan for Ukrnafta. Its key elements should be differentiation of royalty collected from the company, depending on global oil prices; the refusal of the State Fiscal Service to accrue fines for the company's debts and the collection of debts from debtors.

"If we do not reach an agreement with the main creditor – the State Fiscal Service, the introduction of readjustment has no sense," he said at the briefing.

He said that only the interest rates accrued on tax debts accumulated before the new top manager of the company Mark Rollins came in summer 2015 amount to around UAH 4 billion a year.