The plan for the restructuring of BDZ to be upgraded by the end of August

“The Restructuring and Financial Stabilisation Plan for BDZ will be upgraded by the end of August,” acting CEO of Holding BDZ EAD, Velik Zanchev, told Focus Information Agency. The measures to be included in it will be completed so far as the reforms in BDZ are concerned. “So far as the measures under the Restructuring and Financial Stabilisation Plan for the company are concerned, we expect support from the Ministry of Transport, Information Technologies and Communications,” Velik Zanchev said.

The financial performance of the company for the first seven months of 2012 posted a loss of about BGN 10 mln. In contrast to 2011, when the loss was BGN 23 mln, the financial result is higher by BGN 13 mln, according to Velik Zanchev.

Losses were cut due to the maximum cost reduction and the optimisation of operations. “The subsidy is of vital importance for BDZ,” Zanchev added. The company received its subsidy in August, but not in July. “It is clear that we will receive our subsidy from now on. The question is when we will receive the July subsidy. The monthly amount exceeds BGN 13 mln,” Zanchev specified. “At present, we are further reducing our costs in order to make up for the losses. But this subsidy is of vital importance for BDZ. The state wants us to support railways that are subsidised and are related to the social function of the carrier," according to Zanchev.

Zanchev expects productive talks on the subsidy payout for July. The July subsidy was stopped by the Deputy Prime Minister and Minister of Finance, Simeon Djankov because of an outstanding loan dating back to 1995 and was recovered in August after the management of BDZ promised to take additional measures to improve the state of the company.

Прочети цялата новина

Свързани новини: