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Draft law on increasing rent for iron ore production must be withdrawn, - president of Ukrmetalurgprom company

A number of experts and business representatives slam the bill; according to them, it could provoke reduction of production and exports of iron by 70 percent, increased rate of unemployment and reduced income in the state budget
12:56, 9 October 2019

Open source

Draft law No. 1210 that offers a rapid increase in the rent for iron ore production in Ukraine should be recalled from the Parliament. Oleksandr Kalenkov, the president of Ukrmetalurgprom company said so.

"It is an odious and toxic draft law. We all said this there's no use passing it in the first reading because this draft law's content would be changed for 60 percent", he said.

"Later, there will be thousands of amendments there. It will be legislative spam. Recall this bill and offer a normal one, which would include the amendments offered by the business representatives", Kalenkov concluded.

Related: Ukraine slashes imports of Russian direct reduced iron by 94.7% in 2017

Representatives of Ukraine's mining and metallurgy branch, economists and international analysts protested against the changes in the Tax Code of Ukraine. They claimed such changes are devastating for the entire branch of industry; they put it this way during the September session of a workgroup of the Parliamentary Committee for Financial, Tax and Customs Policy.

Related: Draft law 1210 could eliminate Ukraine's mining and metallurgy, - Ukrmetallurgprom

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