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KIEV -- Ukraine's reform-oriented President Leonid Kuchma said Monday he had issued a decree aimed at privatizing more than 8,000 state enterprises next year.
"I have signed a decree to speed up privatization," Kuchma told a news conference.
The decree, issued over the weekend, aims to "guarantee the right of Ukrainian citizens to use privatization certificates and create a market for shares," the state Ukrinform news agency said.
Shares will be sold to employees, the heads of enterprises and at auction. Heads of firms, who have so far been cool toward privatization, will have the right to buy up to 5 percent of the shares in a given enterprise.
Ukraine has privatized fewer than 10 percent of its enterprises.
Parliament in August put a moratorium on privatization until a list of enterprises which are to remain in state hands was approved.
Kuchma Decree Aims To Boost Privatization
29 November 1994
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