Ukraine To Raise Consumer Gas Prices Another 50 Percent in April 2011

According to a memorandum from Ukrainian authorities to the IMF, Ukraine intends to increase the price of gas for households, budget-funded institutions and thermal heating enterprises.
"Further increases will be necessary to unify prices for all consumers of gas on an equal level with imports and provide Naftohaz Ukrayiny with the resources it needs to improve infrastructure and execute its obligations without using funds from the budget", the officials wrote.
"An additional increase of 50 percent for households and communal utilities will be implemented in April 2011", the Ukrainian authorities added.
According to the memorandum, further increases in the price of gas for the population and thermal heat enterprises will be carried out every six months until they are the same as import prices.
"After this, all gas prices will be adjusted as needed to reflect market prices", they said.