President To Create Coal Industry Ministry.

President Viktor Yuschenko intends to create a Coal Industry Ministry, separating the corresponding department from the Fuel and Energy Ministry. The primary goal of new ministry will be to create a plan for coal sector reform by the end of 2005. This action plan for the 2005-2006 period will be aimed creating transparent conditions in the market and efficient market regulation, ensuring the fair distribution of state funds and attracting investments. Concorde Capital:   In our strategy report at the beginning of the year we mentioned coal sector reform as one of the major issues on the agenda of the government. Because of low transparency and financial abuse, the coal sector is in crisis now. The creation of the Coal Ministry will reduce the chain management and allow the state to more efficiently respond to situations in the coal sector. However, real improvements in the coal market can only be expected after the implementation of sector reform, which will be no earlier than mid 2006.