Energy Ministry drafts bill to reform coal industry

That’s according to the Ministry’s press service, Ukrinform reports.

The document defines a set of socio-economic measures toward resolving the issues of arrears and financial recovery of state-owned coal mines, in particular with the involvement of private investment to increase coal production.

Also, the bill proposes that a mechanism be introduced that would allow coal mining companies to repay arrears using funds from a single social contribution tax and mandatory payments to the Pension Fund.

"First of all, legislation is aimed at social protection of employees of coal mining companies. It will ensure correct calculation of employment records and fair accrual of pensions for miners," said Deputy Minister Oleksiy Kurakov.

As Ukrinform reported earlier, the State Treasury allocated UAH 653 million (almost US$24.5 million) for coal mining companies to ensure salary payment to miners.

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