Govt approves Naftogaz’s financial plan for 2020 with net profit of UAH 11.5 bln

The Cabinet of Ministers of Ukraine at a meeting on Wednesday, December 23, approved the financial plan of NJSC Naftogaz Ukrainy for 2020 with a net profit of UAH 11.489 billion and a net income of UAH 112.023 billion.

At the same time, Finance Minister Serhiy Marchenko refrained from supporting the document due to the Finance Ministry's comments.

According to him, the net profit of UAH 11.5 billion provided for in the document is not consistent with the net loss received by Naftogaz for the nine months of 2020 in the amount of UAH 18.7 billion.

Marchenko also announced the need to revise the income and expenditure part of the financial plan, taking into account the violations in the company's work revealed by the State Audit Service. He also noted that the company does not fulfill the gas production targets previously approved by the government program.

At the same time, the government committee before the Cabinet meeting approved the document, rejecting the comments of the Ministry of Finance, and the government approved the draft financial plan.

As reported, the net consolidated loss of Naftogaz Group for January-September 2020 amounted to UAH 17.034 billion compared to a net profit of UAH 21.31 billion for the same period last year.

Source: www.en.interfax.com.ua