Ukraine to allocate UAH 6.2 billion for subsidization of coal industry

Monday, 07 June 2010 11:53:15 (GMT+2)

The Ukrainian government has decided to allocate UAH 6.2 billion (approx. $782 million) to the Ministry of Coal Industry to partially cover the costs included in the value of coal produced by state-run enterprises in 2010, National News Agency of Ukraine (Ukrinform) has reported.

Accordingly, the funds in question will be taken from the remnants of Ukraine's Stabilization Fund as of January 1, 2010, revenues from privatization of state property, and sale of non-agricultural land plots on which assets destined for privatization are located. If the funds from these sources are insufficient, then the money will be obtained through target placement of government securities.

The list of enterprises to which state subsidies will be allocated is being determined by the Ministry of Coal Industry on the basis of evaluation of the results of their economic activity.

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