A new law on the Ukrainian Cabinet’s privatisation programme for 2008-2012 has been adopted in its first reading by the country’s Parliament, reports the website of financial services provider Millenium Capital. The news is positive for Prime Minister Yulia Timoshenko’s plan to sell a state-owned stake in incumbent telco Ukrtelecom. The privatisation is one of several in doubt, after President Viktor Yushchenko cancelled by decree the sell-off of chemical giant Odessa Portside Plant and some other smaller deals in April. The absence of a law backing the government’s privatisation programme was the main argument used by the President to justify his actions.
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