The Ministry of Energy and Coal Industry of Ukraine supports the proposal of the National Energy and Utilities Regulatory Commission (NEURC) to introduce coal royalties in Ukraine, Ukraine`s Energy Minister Ihor Nasalyk told journalists.
”We support the introduction of coal royalties in Ukraine – not now but a bit later,” the minister said without giving specific terms.
According to Nasalyk, the idea of introducing coal royalties lies in ensuring funding for unprofitable mines with the help of profitable ones.
”Larger mines pay royalties which are redistributed in favor of those that are in a poor financial condition,” Nasalyk said.
As UNIAN reported earlier, on April 18, 2016 the NEURC suggested that the Energy Ministry consider the feasibility of introducing coal royalties.
According to the NEURC, the introduction of coal royalties will help adjust tax legislation regarding the coal mining industry to international standards, and ensure financing for special-purpose programs in the coal sector, as well as for payments of housing subsidies to safeguard against possible increase in world prices for energy resources.
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