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Archive for November 10th, 2006

Ukraine’s Prosecutor General rejects Hrytsenko’s

Posted by the Editor on November 10, 2006


News / 10 November 2006 | 17:13

Ukraine's Prosecutor General rejects Hrytsenko's

Ukraine’s Prosecutor General rejects Hrytsenko’s

Ukraine’s Prosecutor General rejected Friday harsh criticism leveled against him by the defense minister, who accuses him of failing to control corruption in the country.

Oleksandr Medvedko said Anatoliy Hrytsenko’s claims were groundless, and dismissed the minister’s demand that he resign.

Hrytsenko, a supporter of President Viktor Yushchenko, called on Thursday for the immediate dismissal of Prosecutor General Oleksandr Medvedko, a backer of Prime Minister Viktor Yanukovych, RIA Novosti reported.

Hrytsenko said the Prosecutor General’s Office has deliberately dragged out case investigations, failed to consider cases submitted by the Defense Ministry, and has failed to launch necessary criminal proceedings.

However, the chief prosecutor cited statistics demonstrating his agency’s effectiveness in the fight against corruption, and said: “The allegations put forward by Hrytsenko are baseless.”

Hrystenko himself faced pressure Friday, with lawmakers demanding that he and the foreign minister, both Yushchenko appointees, appear before parliament to justify their performances.

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Ukraine Naftogaz $300 mln debt to be cleared by year-end

Posted by the Editor on November 10, 2006


News / 10 November 2006 | 16:38

Ukraine Naftogaz $300 mln debt to be cleared by year-end

Ukraine Naftogaz $300 mln debt to be cleared by year-end

Ukraine’s national oil and gas company Naftogaz will pay off its current debt to RosUkrEnergo, the sole supplier of Russian and Central Asian gas to Ukraine since the start of 2006, before the end of the year, Ukraine’s fuel and energy minister said Friday, RIA Novosti reported.

RosUkrEnergo signed a deal in late October with UkrGazEnergo, the trader’s joint venture with Naftogaz, by which at least 55 billion cubic meters of gas from Central Asia will be supplied to the country in 2007, at $130 per 1,000 cubic meters.

“Naftogaz’s debt to RosUkrEnergo at the end of the heating season stood at about $600 million. Half of it has already been discharged through credits. The second half will be cleared before the end of the year – unfortunately, also through credits,” Yuriy Boyko said.

The minister said the debt was incurred through the incompetence of Naftogaz’s previous management, adding that the company’s financial situation is gradually improving.

RosUkrEnergo receives a mixture of Russian and Central Asian gas from Russian energy giant Gazprom, which owns 50% of the company, and sells most of it to Ukraine, exporting the remainder to Europe.

The company said it has already signed contracts for 42 billion cubic meters of gas with Turkmenistan, 8.5 billion cubic meters with Kazakhstan, and 7 billion cubic meters with Uzbekistan for 2007.

Last month, Fitch Ratings placed Naftogaz local and foreign currency issuer default ratings of B+ (B plus) on Rating Watch Negative (RWN) due to an increase in the price it will pay for Russian natural gas in 2007.

The price increase from the current $95 to $130 per 1,000 cubic meters will likely further negatively affect the company’s financial profile, which seems to have lost its dominant position on the Ukrainian domestic gas market, the agency said in a statement.

Fitch said it does not believe the government will make any direct liquidity injection in the event that Naftogaz is unable to discharge its liabilities as they become due, regardless of the Fuel and Energy Ministry’s letter to Naftogaz’s syndicated bank lenders, in which it pledges to support any actions of the company aimed at improving its financial position and averting its bankruptcy.

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Tymoshenko criticized Yanukovych’s achievements

Posted by the Editor on November 10, 2006


News / 10 November 2006 | 16:07

Tymoshenko criticized Yanukovych's achievements

Tymoshenko criticized Yanukovych’s achievements

BYuT leader Yulia Tymoshenko has criticized achievements of Victor Yanukovych’s government, comparing them with achievement of her government.

She noted that her government had increased budget revenues by 70%, while Yanukovych’s government “has fully restored all shady schemes.”

BYuT leader underlined that during her being in office, tariffs on housing services did not change, while Yanukovych has increase them three times more. She also reminded that when her government was in force the gas price made 50 dollars, but “Yanukovych’s government has surrendered the country and increased the price up to $130.”

Tymoshenko added that her government increased minimal level of pensions by 75%, but Yanukovych would not be able to do the same as “inflation will eat any attempts to increase social payments.”

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Ukraine’s PM: Arrears in miners’ wages must be liquidated

Posted by the Editor on November 10, 2006


News / 10 November 2006 | 15:31

Arrears in miners' wages must be liquidated

Ukraine’s PM: Arrears in miners’ wages must be liquidated

Outcomes of the coal branch activities for the latest ten months were the main topic during a meeting between Ukrainian Prime Minister Viktor Yanukovych and Coal Industry Minister Serhiy Tulub, “Cabinet press office” reported.

First moves done by the Ministry were directed at paying off arrears in wages to miners, Serhiy Tulub said. According to him, as of August 1 the arrears in wages amounted to 166 mln UAH. Presently, current wages are being paid in full.

According to Tulub, there are no arrears in wages at mines, which are subordinated to the Coal Industry. Still, there are arrears at the frozen or bankrupted enterprises and some private mines, where the state has no levers for influence.

The Ukrainian Prime Minister charged the Minister to consider at the ministerial collegium the issue of building new mines in 2007. According to Tulub, during seven months 254 mln UAH were directed to construction and technical updating of the mines, which made 78 percent of the planned budgetary means.

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Ukraine’s Speaker: It is too late to cancel political reform

Posted by the Editor on November 10, 2006


News / 10 November 2006 | 15:00

It is too late to cancel political reform

Ukraine’s Speaker: It is too late to cancel political reform

Chairman of the Verkhovna Rada of Ukraine Oleksand Moroz is convinced that the reform of local self-government will continue. The speaker told Friday at the extended session of the anti-crisis coalition.

“Cabinet’s readiness and intention to develop regions give the right to state that we will carry out the political reform at the local level. We will give representatives of the local governments a possibility to be responsible for the tasks they solve,” Moroz said.

According to him, after 100 days of activity of Yanukovych’s government cancellation of the political reform is impossible. “After 100 days of realization of the first part of the political reforms, this matter is irrevocable. Nobody will be able to revise the political choice of Ukraine,” Moroz said in particular.

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Ukraine’s PM stands for new economic policy of the country

Posted by the Editor on November 10, 2006


News / 10 November 2006 | 14:37

Ukraine's PM stands for new economic policy of the country

Ukraine’s PM stands for new economic policy of the country

Speaking at the extended session of the anti-crisis coalition, Prime Minister of Ukraine Victor Yanukovych stated that there is a necessity to work out strategy of a new economic policy of Ukraine.

He underlined that together with representatives of the parliamentary coalition the government had started to work out a package of strategic documents. “In particular, the strategy of economic and social development of Ukraine for 2007-2011 has been already worked out. In the near future it will be submitted for public consideration, and will undergo scientific and public hearings,” Yanukovych added.

The Premier noted that plans of legislative work of the parliament and the government had been also worked out. “We are working out a draft bill on main principles of home and foreign policy,” he said.

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Yanukovych: We have made clear our relations with NATO

Posted by the Editor on November 10, 2006


News / 10 November 2006 | 14:06

We have made clear our relations with NATO

Yanukovych: We have made clear our relations with NATO

Prime Minister of Ukraine Victor Yanukovych considers that Ukraine must continue cooperation with NATO. The PM told Friday at the extended session of the anti-crisis coalition.

“We have made clear our relations with NATO and decided to continue the dialogue without speeding up the issue on immediate accession to the Alliance. It will give the supporters of the accession a possibility to analyze why and where they aspire to access, as well as opponents of Euro-Atlantic integration will be able to understand against what, in fact, they protest,” the head of the government pointed out.

Yanukovych mentioned that NATO partners had supported such approach.

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Yanukovych states positive moments for the first 100 days of governmental work

Posted by the Editor on November 10, 2006


News / 10 November 2006 | 13:44

Yanukovych states positive moments for the first 100 days of governmental work

Yanukovych states positive moments for the first 100 days of governmental work

For the first 100 days of work the coalition government has managed to take a control over economic processes, Prime Minister of Ukraine Victor Yanukovych declared speaking at the extended session of the anti-crisis coalition.

He underlined that the government had taken measures to considerably reduce administrative expenses and squandering of money. “To put end to this we may only by way of approving necessary changes to the state budget 2007,” Yanukovych decalred.

The Premier underlined that he hopes for the parliament to pass this bill next week.

According to the PM, the government has paid special attention to energy security of the country. He reminded that due to intensive talks with Russia Ukraine now has guarantees of annually gas supplies at the lowest price in Europe.

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