The bill “On Reforming the Coal Industry” has been submitted to public consultations

The Ministry of Energy announced that the bill “On Reforming the Coal Industry”, developed by the Ministry of Energy, has been submitted to public consultations.

The document defines a set of socio-economic measures aimed at resolving debt issues and financial recovery of state-owned coal mining enterprises, in particular, with the attraction of private investment to update the basic material and technical assets and increase the economically viable production of domestic coal.

"In particular, the bill proposes to introduce a mechanism that will allow coal mining enterprises to pay off arrears on a single contribution to compulsory state social insurance and compulsory payments to the Pension Fund," the message says.

Also, the bill provides for amending the Code of Ukraine on bankruptcy procedures to prevent the bankruptcy of state coal mining enterprises.

“First of all, the law is aimed at social protection of employees of coal mining enterprises. It will ensure the correct calculation of work experience and fair calculation of pensions for miners,” said Deputy Minister Oleksii Kurakov.

To recap, the Ministry of Energy has approved a new monthly schedule for the accumulation of coal.

On August 16, the Ministry of Energy transferred UAH 653 million to the accounts of coal mining enterprises.

Tags: coal mining, legislation, coal, electricity market, debt, coal mining, draft law, coal mine, The Ministry of Energy

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