Prices For Gas To Make Belarusian Metallurgic Plant Loss-Making Again

In September, the short-term prosperity of the Belarusian Metallurgic Plant will face downfall of the prices for metal.

“Considering the Belarusian Metallurgic Plant, it made the biggest losses in the first quarter, but now the enterprise started making profit and August has been very successful,” - the first Deputy Minister of Industry Henadz Svidzerski has state, BelTA reports.

However, the prosperity seems unlikely to last long.

“In September, we presume the downfall of the world prices for metal, by over 7%. It cannot but affect us. Apart from that, the plant finds it hard to compete due to the dependency on power resources,” - the first Deputy Minister has noted.

Henadz Svidzerski has added that the value of credit resources affects the financial state of the industrial enterprises. At present moment it remains higher than the profitability, which the enterprises can provide from realization of the machine-building production.

Each enterprise of the Ministry of Industry is working to reduce the costs for production, implementation, and maintenance. "I think, by realizing these measures we will get a positive result", - the representative of the Ministry of Industry has summarized.

Let us remind, the Belarusian Metallurgic Plant was the leader in losses in 2015. In July this year, the plant announced "significant improvement" of the economic activity results for the second quarter of 2016.

The Belarusian Metallurgic Plant made a profit from sales in the amount of Br 240 billion. As for net profit, it was reported small, but evident. Still, the enterprise finished the first quarter of the current year with a loss of Br 362 billion.