The law stated that 51 per cent of shares in the enterprises processing agricultural produce were to be given free to farms. The remaining shares could be sold to farms or members of the staff working at the enterprises either for privatization certificates or for cash (Business Central Europe, December 1995–January 1996, p. 27). In early 1996 parliament approved a largely unchanged law, which proposed giving collective farm directors a free 51 per cent stake in the agro-industrial enterprises, mostly in food processing and handling. The law would effectively remove half the enterprises from the voucher privatization programme. The 4,270 agro-industrial enterprises, both private and state-owned, would be sold afresh. It is not exactly clear, but agro-industrial workers could mop up the remaining shares through a closed auction or the remaining stake could be sold through the voucher programme. President Kuchma vetoed the bill on 21 February 1996. (Parliamentary speaker Moroz called on local governments to ignore a November 1995 decree which cautiously mandated limited sales of land within collectives, which are slowly being broken up.) (FT, 8 February 1996, p. 33; and 22 February 1996, p. 2.) ‘The agricultural sector … consists mostly of bankrupt state-owned farms, 95 per cent of which lost money last year [1998]’ (Business Central Europe, December 1999–January 2000, p. 29).

DOI link for The law stated that 51 per cent of shares in the enterprises processing agricultural produce were to be given free to farms. The remaining shares could be sold to farms or members of the staff working at the enterprises either for privatization certificates or for cash (Business Central Europe, December 1995–January 1996, p. 27). In early 1996 parliament approved a largely unchanged law, which proposed giving collective farm directors a free 51 per cent stake in the agro-industrial enterprises, mostly in food processing and handling. The law would effectively remove half the enterprises from the voucher privatization programme. The 4,270 agro-industrial enterprises, both private and state-owned, would be sold afresh. It is not exactly clear, but agro-industrial workers could mop up the remaining shares through a closed auction or the remaining stake could be sold through the voucher programme. President Kuchma vetoed the bill on 21 February 1996. (Parliamentary speaker Moroz called on local governments to ignore a November 1995 decree which cautiously mandated limited sales of land within collectives, which are slowly being broken up.) (FT, 8 February 1996, p. 33; and 22 February 1996, p. 2.) ‘The agricultural sector … consists mostly of bankrupt state-owned farms, 95 per cent of which lost money last year [1998]’ (Business Central Europe, December 1999–January 2000, p. 29).

The law stated that 51 per cent of shares in the enterprises processing agricultural produce were to be given free to farms. The remaining shares could be sold to farms or members of the staff working at the enterprises either for privatization certificates or for cash (Business Central Europe, December 1995–January 1996, p. 27). In early 1996 parliament approved a largely unchanged law, which proposed giving collective farm directors a free 51 per cent stake in the agro-industrial enterprises, mostly in food processing and handling. The law would effectively remove half the enterprises from the voucher privatization programme. The 4,270 agro-industrial enterprises, both private and state-owned, would be sold afresh. It is not exactly clear, but agro-industrial workers could mop up the remaining shares through a closed auction or the remaining stake could be sold through the voucher programme. President Kuchma vetoed the bill on 21 February 1996. (Parliamentary speaker Moroz called on local governments to ignore a November 1995 decree which cautiously mandated limited sales of land within collectives, which are slowly being broken up.) (FT, 8 February 1996, p. 33; and 22 February 1996, p. 2.) ‘The agricultural sector … consists mostly of bankrupt state-owned farms, 95 per cent of which lost money last year [1998]’ (Business Central Europe, December 1999–January 2000, p. 29).