Public joint-stock company Ukrzaliznytsia failed to conduct fundamental reforms in 2016-2017, Ukrainian Infrastructure Minister Volodymyr Omelyan has said, quoted by Interfax. “Let’s be blunt: the reforms of 2016-2017 didn’t happen. And until authority over Ukrainian Railways is returned to the Ministry of Infrastructure and until we fully implement corporatization – I don’t believe we’ll see any changes for the better. The temptation to use the lack of control and professional skills for personal enrichment is simply too great,” the minister stated.
In January 2017, the government transferred public joint-stock company Ukrzaliznytsia to the management of the government to increase efficiency of its corporate governance. Under the law, the founder of Ukrzaliznytsia and its only shareholder is the Cabinet of Ministers. The role of the Ukrzaliznytsia’s supervisory board as the management body headed by First Deputy Infrastructure Minister Yevhen Kravtsov will expand.
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