15:07 17.02.2020

Housing, utility reform should open market of public utilities for investments – Shmyhal

2 min read
Housing, utility reform should open market of public utilities for investments – Shmyhal

Deputy Prime Minister, Minister for Community Development and Territories Denys Shmyhal believes that the essence of housing and communal services reform in Ukraine should be the opening of the market for public utilities for investment.

"In the civilized world, the utility business is one of the most stable and profitable. Of course, there can be abuses, so the state should take on such a regulatory function where there is a monopoly. Where there is no monopoly, it's just business. Therefore, housing and communal services reform should consist in the fact that we must open this market for investment and move steadily in terms of reducing the cost of services," Shmyhal said in an exclusive interview with Interfax-Ukraine.

According to the Deputy Prime Minister, the investment is primarily the renewal of the fund, which is worn out and today accounts for 30 to 40 percent of heat and water losses on city networks.

"Utilities in a market economy is a commodity, like any other commodity. But utilities in Ukraine is a commodity that today requires close attention from the state, because we have not yet formed a full-fledged market for these services. Therefore, the state is forced to intervene and control today to protect the interests of people," said Shmyhal, answering the question on the efficiency of the manual regulation of utility tariffs by the government.

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