Ukraine’s Cabinet of Ministers has transferred public joint-stock company Ukrzaliznytsia to the management of the government to increase efficiency of its corporate management, Secretary of the Infrastructure Ministry of Ukraine Adnriy Haluschak has reported.
He said that the government decided to bring the company’s regulations in line with the law on the specifics of the creation of the public joint-stock company of railway transport of general use. The amendments were aimed at creating the conditions for conducing the company’s corporate management reform.
Under the law, the founder of PJSC Ukrzaliznytsia and its only shareholder is the Cabinet of Ministers.
“Now the government as a shareholder will be able to quickly make effective decisions required for the functioning of the company and reforms,” he said.
Haluschak said that the role of the Ukrzaliznytsia’s supervisory board as the management body headed by First Deputy Infrastructure Minister Yevhen Kravtsov would expand.
“The Infrastructure Ministry would focus on its key function – forming the public policy in the railway transport, not diverting its attention to solving management issues,” he said. (Interfax/Business World Magazine)