Energy Headlines

The Government drafted a number of measures aimed at supporting domestic coal branch under conditions of the global financial crisis. Prime Minister Yulia Tymoshenko stated at an enlarged session of the Coordinating Council on regulating the crisis situation in coal industry with participation of the Cabinet representatives, heads of coal enterprises and trade unions of miners.

As the Prime Minister said, at the cost of the Stabilization fund a state reserve of steam coal would be created. All public organizations, institutions and enterprises which consume domestic coal should purchase it through “Vuhillia Ukrainy” (Coal of Ukraine daughter enterprise), so the Government could control all flows. “As all state reserves downloaded all, volumes and ranks of steam and coke coal should be implemented in full,” the Head of Government said.

The Prime Minister also informed that Government had reduced coke coal prices for metallurgical enterprises which undertook to replace gas consumption by coal. At that, according to Yulia Tymoshenko, the Government will watch that metallurgical enterprises pay in time for coal. Ukrzaliznytsia should first of all transport coal so that to avoid bursting of the storehouses with coal and prevent fire-dangerous situations,” she said.

Moreover, the Government will appeal to the National Bank to extend a term for credit repayment opened to coal enterprises by commercial banks. With this purpose the Prime Minister commissioned the Ministry of Coal Industry to compose a list of coal enterprises which have no means to cancel credits. “We’ll deal with every enterprise personally,” Yulia Tymoshenko stressed.

The Prime Minister also commissioned to take measures aimed at attracting non-governmental investments to the coal branch. “If we want to reequip, upgrade and become stronger today then private investors should be attracted to the branch through transparent privatization,” Yulia Tymoshenko said.

Source:Governmental Portal