Since April 2023, the State Enterprise "Ukrspyrt", which is the largest in the Ukrainian market, has completely ceased production activities and has a multimillion-dollar debt to the state budget and other creditors. This is stated in the conclusions of the State Audit Service of Ukraine based on the results of the financial audit of the State Enterprise "Ukrspirt", UNN reports.
Details
In 2020, the demonopolization and reform of the alcohol industry began, according to which the state budget was to receive approximately UAH 5 billion.
The privatization of Ukrspyrt's places of business and alcohol storage was planned to be completed by 2021 in accordance with the Program for Reforming and Developing the Alcohol Industry for 2020-2023.
However, as of April 1, 2024, 8 enterprises belonging to the State Enterprise "Ukrspirt" remain unprivatized, which is why the company did not receive UAH 95.7 million of the planned privatization proceeds, which was to be paid by the winner of the auction at the book value of the property.
In addition, the company incurred more than UAH 70 million in additional costs for the maintenance of non-operating enterprises and lost assets worth UAH 5.2 million. This led to the fact that SOE "Ukrspirt" was unable to repay its overdue debts to the state budget and other creditors by the end of 2023.
Due to ineffective management decisions of the former management regarding the late implementation of the decision of the Antimonopoly Committee of Ukraine, the company also incurred unproductive costs of paying a fine of UAH 33 million. The total amount of identified deficiencies and violations in the use of the company's property and funds exceeded UAH 330 million.
Separately, the auditors draw attention to the fact that failure to fulfill its obligations to the budget and contractors (due to lack of working capital) will result in additional costs due to payment of penalties in the amount of UAH 29.3 million and, if the courts decide in favor of the plaintiffs in other cases, in the amount of UAH 8.4 million.
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