The Cabinet of Ministers of Ukraine has approved a draft law on the National Commission for State Regulation of Transport.

"The regulator will shape tariffs for the services of natural monopoly entities, issue licenses in the field of railway transport and check compliance with requirements,"  Prime Minister of Ukraine Oleksiy Honcharuk said.

The Commission's work is aimed to ensure state regulation, monitoring and control in the field of transport. The tasks of this authority are to formulate a price and tariff policy with the use of incentive mechanisms, control pricing and avoid cross-subsidization, as well as promote competition in the market.