Ukrainian parliament to ban privatization of steel giant

KIEV, October 18 (RIA Novosti) - Ukraine's parliament passed a bill banning the privatization of Krivorozhstal, the country's largest steel mill, in the first reading Tuesday.

The bill, which passed with 256 votes, 30 more than required, must undergo a second reading.

The parliamentarians also approved a draft bill to impose a moratorium on the privatization of Krivorozhstal, which accounts for 20% of Ukraine's steel market. The bill, pending a second reading, passed with 255 votes.

The parliament also adopted a regulation On Keeping Krivorozhstal's Shares in the State Sector, recommending that the government back down from its privatization plans for the company.