"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.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.