Verkhovna Rada of Ukraine Sept. 15 has approved after second reading a draft law "On amendments to some legislative acts on public procurement."

251 MPs have voted for the bill, including 64 amendments, most of which have been endorsed.

The bill is to improve the procurement mechanism amounting to UAH 300 bln per year. Its adoption allows for verification of the beneficiaries and provides an opportunity to block trades via litigation.

The Committee came up with a proposal not to exclude monitoring system from public procurement, but transfer it to the profile body - the State Financial Inspection.

The Minister of Economic Development and Trade of Ukraine Aivaras Abromavichus believes this law, affecting business interests, is "a real opportunity to save USD 50 billion per year".

The Minister also reminded that the adoption of the second law on public procurement is scheduled for October.

"Due to the public procurement reform it appears to be possible to fight corruption", he said.

Reminder: Public Procurement Law was adopted after the first reading late June. Then, the Ministry of Economic Development and Trade claimed all procurements, except of specific and defense ones, to be transferred to an electronic format until the end of 2016.