Duma deputy comments on situation in coal industry

Ill-conceived reforming is to be blamed for the current depressed state ofthe Russian coal industry, member of the Russian State Duma PropertyCommittee Ivan Grachyov said in an interview with RBC. The State Dumadeputy was quoted as saying if the borrowed funds, which had been flowinginto this sector for the last several years, had been properly spent,"miners could have enjoyed a life of ease". According to Grachyov, "theselection of a reasonable strategy will help reverse the situation". "Forthis, profitable coal companies need to be transferred to private owners,since this sector has no strategic importance for the government", thedeputy pointed out. After that, according to the member of the PropertyCommittee, the government will have to determine the expenditures relatedto supporting the life of loss-making mines, which cannot be shut downowing to social reasons as well as create alternative jobs. As one of thepossible variants, Grachyov proposed using free miners' workforce atstream-gold deposits in the Kemerovo region provided the state secures taxbenefits there. Grachyov also believes that "the meeting of the State CoalIndustry Council held in the Kemerovo region failed to come up with acoherent strategy of the industry's development". .

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