Ministry of Transport, Information Technology and Communications

The Minister of Transport, Information Technology and Communications Danail Papazov presented to the railroad officials in Sofia the plan for stabilization and development of the railway. Its discussion at an expert level will continue next week. "One of the most important things is to achieve a mutually beneficial agreement with creditors for rescheduling the obligations of BDZ Holding," said Minister Papazov during the meeting. According to him, another meeting between the Ministry of Transport, Information Technology and Communications, the Ministry of Finance and the bondholders has been scheduled for September.

The improvement of the financial status of BDZ Holding, supply of fresh funds from the sale of non-operating assets and measures to optimize costs and optimize the composition are among the planned measures. "We do not plan the reform to be accompanied by a rough layoff," said Danail Papazov. He said that the reduction of staff will be done in a natural way, like for example, there will be no one employed once an officer retires.

Minister Papazov announced that one of the tasks of the plan is to make the service attractive and actively offered. Another important perspective is finding financing under the OP "Transport", and renewing the fleet of locomotives and wagons. In this way, the trains will run at higher speeds and the quality of service provided will improve.

During the meeting, Minister Danail Papazov awarded outstanding employees of BDZ and the National Railway Infrastructure Company. The event was attended by the Deputy Minister of Transport, Information Technology and Communications Anton Ginev, the CEO of "Holding BDZ" Chavdar Trendafilov and the Director General of the National Railway Infrastructure Company Milcho Lambrev.