13 April 2011, 19:00
"No other issue is as topical for Ukrainian people as reimbursement of depreciated or lost savings, since this matter concerns most Ukrainians", Adam Martyniuk, First Deputy Chairman of the Verkhovna Rada of Ukraine, declared, opening the parliamentary hearings "On State Policy regarding Reimbursement and Compensation of Lost (Depreciated) Savings."
"According to the Register of Savers, this issue concerns 11,8 million Ukrainian citizens. They are waiting for the state to return their labor savings", specified A. Martyniuk.
The First Deputy Chairman reminded, "In November 1996, the Verkhovna Rada adopted the Law of Ukraine "On State Guarantees of Reimbursement and Recovery of Ukrainian Citizens´ Savings", which obliges the state to return labor savings and cover compensation expenses.
A. Martyniuk explained, "According to the Cabinet of Ministers, only UAH 10 billion out of the total sum of state obligations comprising UAH 130 billion has been returned for 15 years. Thus, UAH 120 billion is to be returned to the citizens. It is an enormous sum."
"Considering index adjustment and inflation rate since the year 1996, the state needs to return not 121 billion but more than a trillion", A. Martyniuk admitted. "Given the state budget, it is impossible. Moreover, the Law on State Budget for 2011 does not allocate any funds to cover the depreciated savings.
According to A. Martyniuk, "The situation can still be changed." He expects the Verkhovna Rada of Ukraine to scrutinize the amendments to the State Budget for 2011 shortly.
"The State Budget for 2011 is exceeded, so the Cabinet of Ministers, the Ministry on Finance, the Verkhovna Rada of Ukraine, and subject parliamentary committees shall find funds to implement the program on savings reimbursement and compensation of lost (depreciated) citizens´ savings," the First Deputy Chairman of the Verkhovna Rada of Ukraine stressed. "I hope that the Cabinet of Ministers will facilitate amending of this Law further to the today's parliamentary hearings."
Minister of Finance of Ukraine Serhii Rybak took the floor. He informed that liabilities of the state to the citizens totaled at least UAH 121 billion.
S.Rybak reminded that in 1997-2001, compensation was paid with regard for the age of the citizens and with preliminary consultations. However, the Constitutional Court of Ukraine invalidated this resolution, stating that neither age nor any other factors are applicable to the savers.
Chairman of the Committee on Social Policy and Labour Vasyl Khara was given the floor. He reminded that the problem of depreciated savings dates back to 1992. People have always invested into state-run financial establishments, in particular, in the Savings Bank. "These financial establishments made enormous domestic investments into industry and economy," stressed the reporter.
V.Khara characterized the activity of the former Government as to the fulfillment of liabilities on reimbursement of depreciated savings. He admitted that neither former nor acting government have established and ratified the order of payments. Therefore, the funds allotted from the state budget have not been paid to the savers.
The Committee Chairman stressed that previous parliamentary hearings in December 2003 had not brought substantial changes. Most recommendations have not been implemented. "An e-register of the insured and the insurers have not been formed yet. It has not been settled whether savings could partially be covered by cashless transfers for public utility services," he stated.
People´s Deputies, members of non-governmental organizations and savers´ associations took the floor.
Chairman of the Sub-Committee of the Committee on Finance, Banking, Taxation and Customs Policy Yurii Polunieyev stated that the policy of compensation for Soviet savings should be based on real capacities of the budget and the indexes of the state debt, which are unfavorable for the immediate settlement of the issue.
Ombudsperson of The Verkhovna Rada of Ukraine Nina Karpachova stated that she had always addressed this issue in her work. She considers compensation of savings as a means of overcoming poverty.
According to the Ombudsperson, the problem can be settled by setting up a compensation fund out of a certain interest rate on the income generated from the exploitation of property produced at the expense of the labour savings. It is also advisable to introduce a luxury tax.
Other participants of the hearings stated that realization of the title of citizens to savings and compensation of the lost (depreciated) savings is one of the topical issues these days, which creates a negative attitude of the public towards the authorities, and aggravates mistrust to the observance of the constitutionals provisions on supremacy of law and guarantees of the title to property.
To overcome the adverse socio-economic consequences caused by the failure to fulfill state liabilities to the citizens of Ukraine concerning reimbursement and compensation of lost savings, and streamline this process, participants of the parliamentary hearings recommended the Cabinet of Ministers to bring forward the adjusted bill on amendments to the Law "On State Guarantees of Reimbursement of Savings of Ukrainian Citizens" regarding formation of the Register of the Savers and the Register of the Insured and the Insurers.
Then the parliamentary hearings "On State Policy regarding Reimbursement and Compensation of Lost (Depreciated) Savings" were adjourned.