Cabinet likely to forbid Bread of Ukraine to manage its property without Government permission
13.06.2006 09:00 "Agro Perspectiva" (Kyiv) —
Cabinet is likely to prohibit State-owned Joint Stock Company Bread of Ukraine to control its property without Government permission; Governmental Agrarian-Industrial Complex Committee initiates corresponding amendments to be brought into Bread of Ukraine Statute, reported press agencies referring to Natalia Pavliuk, Deputy Minister of Agrarian Policy.
As to Pavliuk, Cabinet is most probable to examine these proposals on its Jun 14 meeting.
As earlier reported, Ministry of Agrarian Policy had proposed to bring State-owned Joint Stock Company Bread of Ukraine into Ministry subordination.
Company Bread of Ukraine was founded in 1996; presently Company incorporates 81 grain acceptance/storage system companies.
Bread of Ukraine owns 2 port elevators (Odesskiy and Myckolayivskiy). Odesskiy port elevator grain storage capacity totals 100,000 MT (annual transshipment capacity 1.5 mn MT); Myckolayivskiy port elevator grain storage capacity totals 69,000 MT (annual transshipment 600,000 MT);
Since end 1998 Company suffered financial problems due to having had got in big debts with petrol/gas companies while acting as agrarians fuel/fertilizers shipments intermediary. As to various estimations, Bread of Ukraine debts are ranging within UAH200 mn-UAH1.4 milliard.