Plan of economic reforms in Ukraine foresees coal market liberalization

The plan of economic reforms of Ukrainian President Viktor Yanukovych for 2010-2014 foresees the liberalization of the coal sector, Fuel and Energy Minister of Ukraine Yuriy Boiko said at a meeting of the committee for economic reforms on June 2, while presenting the program.

According to Boiko, the main purpose of reforms in the sector is achieving profitability in the coal sector and the uninterrupted provision of Ukraine's economy with coal.

"To settle the issue it is necessary to liberalize the coal market, along with the mechanisms of sales and price formation," the minister said.

The fuel minister said that the plan of reforms foresees the privatization of coalmines.

"Operating mines, which will be defined as subject to privatization, will be offered to investors able to invest in their development," the minister said.

"Speaking about loss-making mines, it is more reasonable to use the funds presently paid to subsidize the mines to train miners so they can find new jobs. After that, such mines could easily be closed," he said.