The price of gas for the population of Ukraine will increase by another 20 percentage points starting May 1, Minister of Social Policy of Ukraine Andriy Reva said Tuesday
KIEV (Pakistan Point News / Sputnik - 15th January, 2019) The price of gas for the population of Ukraine will increase by another 20 percentage points starting May 1, Minister of Social Policy of Ukraine Andriy Reva said Tuesday.On October 19, the Ukrainian cabinet approved the 23.5-percent increase in gas prices for households starting November 1 in line with the requirements of the International Monetary Fund (IMF) under its financial support scheme. The new price will be 8,500 hryvnias (over $300) per cubic meter.
"In fact, there is a resolution of the cabinet of ministers regarding the formation of the price of gas, and this resolution reduces the price in accordance with the calculation of the formula. From November 1, 2018, this is 60 percent of the total price, which is in line with the formula. This formula provides for an increase from May 1 to 80 percent of the total gas price," Reva said while broadcast by Espreso tv.
In October, the Ukrainian government said that the International Monetary Fund (IMF) demanded that gas prices be raised by 60 percent, while the government insisted that the level of income still did not allow Ukrainians to pay market price for gas.
