President Viktor Yuschenko has asked Prime Minister Yulia Tymoshenko to call an extraordinary meeting of the Cabinet of Ministers for October 11 and address the issue of allocating financing for the early parliamentary elections from the reserve fund of the national budget.

Ukrainian News learned this from the presidential press service.

Yuschenko has sent the prime minister a letter in which he underlined that, according to information from the Central Election Commission, preparations for the early elections will require UAH 417.5 million.

The President notes that the Verkhovna Rada cannot allocate this financing because its powers are terminated ahead of term.

Yuschenko stresses that according to the Constitution, the people of Ukraine are the bearers of sovereignty and the only source of power in Ukraine; the people exercise power directly and through bodies of state power and bodies of local self-government, and express their will through elections.

This norm suggests that the Cabinet of Ministers must pass a decision on financing the organization of elections from the reserve fund, which exists for unforeseen expenses, the President opined.

As Ukrainian News earlier reported, President Viktor Yuschenko announced parliament dissolution in his October 8 televised address to the nation.

The presidential decree to this effect was signed on October 9 and published on October 10.

Yuschenko has called early elections for December 7.