Photo: A building in Kharkiv, Ukraine was bombed into ruins. /AP

[Ta Kung Pao News]According to reports from the New York Times and AFP: US media revealed that due to severe lack of funds, Ukraine plans to sell state-owned assets to provide funds for the military and stabilize the economy. Sources revealed that the Ukrainian government’s ultimate goal is to retain control of only 100 companies.

It is reported that starting this summer, the Ukrainian government will auction about 20 state-owned enterprises, including the Ukrainian Hotel, a large shopping mall in Kiev, and several mining and chemical companies.

The push for privatization has two main goals: to raise money for the state budget, which has a $5 billion shortfall in military spending this year; and to boost Ukraine’s ailing economy by attracting investment, which officials hope will make the country self-sufficient over time.

However, privatization presents considerable challenges for a country at war, and many worry that the assets being sold could be tainted by widespread corruption in Ukraine.

Baranov, general manager of Kyiv investment company Dragon Capital, noted that privatization will only work if the government “acts as a responsible seller and is able to provide guarantees and compensation to potential buyers.”

Hungarian Prime Minister Viktor Orban said in Budapest on the 12th that Hungary would not “contribute money or effort” to NATO’s operations in Ukraine, would not send personnel, and would not allow its territory to be used to participate in this conflict.