MP Derkach proposes to set up a commission of inquiry on abuses of the Cabinet, the Finance Ministry, and the National Bank

Member of Parliament Andrii Derkach (unaffiliated) proposes to conduct an investigation of abuse of authority on the part of the Cabinet of Ministers, the Finance Ministry, and the National Bank.

“The parliamentary faction leaders have already drawn up a draft decree on establishing an interim commission of inquiry of the Verkhovna Rada on these matters, now it is only a matter of voting on it”, he reminded in his interview to the “Interfax-Ukraine” Agency on Tuesday.

According to the draft, the distortion of the budget adoption procedure instigated by the Cabinet of Ministers has resulted in the violation of the manner of government conduct, pre-established by the Constitution, the underfunding of science, education, and healthcare needs, the baseless budgetary preferences to particular ministries and departments.

The document also emphasizes that “in accordance with the provisions on restructuring the national debt of Ukraine, which the Finance Ministry is making out to be this huge “victory”, “our country will have to actually pay over $200 billion for postponing the payoff of $3 billion!”.

If Ukraine wants to save in interest on the national debt, which Minister of Finance N. Yaresko is counting on, that is planning no more than a 4% GDP growth a year, then the actual GDP of Ukraine by 2040 will have been no more than $225 billion, or $5000 per capita. It equals the current living standards in the countries like Albania or Mongolia”, the initiator of decree on establishing the interim commission of inquiry claims.

According to the draft decree, the parliamentary interim commission of inquiry is to look into “unprofessional actions, overtly corrupt schemes, which the National Bank of Ukraine is resorting to in its operation”.

Due to a significant number of banks having been closed, the National Bank of Ukraine intentionally caused the loss of money of the legal entities that went bankrupt and were unable to pay off their loans, which resulted in an enormous blow to Ukraine’s economy”, the document underscores.

The most active intermediary at both stock and curb markets of the local government bonds is the company “Investment Capital Ukraine” (ICU), previously co-owned by the incumbent Head of the National Bank V. Gontareva, the bank “Avangard”, which belongs to the ICU Holding Ltd., as well as state-owned “Ukrgasbank” and “Oshchadbank”.

It was the intermediary companies close to V. Gontareva that were instrumental in accumulating excess profit, which was subsequently withdrawn for “payment of commercial services” (orders), both for other market participants and public officials involved in such transactions. According to a different scheme, the National Bank purchases the local government bonds from the market participants at a price much higher than the market. Such transactions result in either the National Bank suffering a shortfall in profits or, in case of their selling off the market at the market price, – in direct loss for the regulator ”, the draft decree states.

A.Derkach believes that the interim commission of inquiry should be headed by a member of “Fatherland”, or “Svoboda”, or Oleg Lyashko’s Radical Party, or “Opposition Bloc”.

 

Source: Interfax-Ukraine

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