Radulovic: Alarming situation in railway companies

According to Minister of Transport and Maritime Affairs Filip Radulovic, the current situation in the railway companies is alarming.

After having met with the management of these companies, he announced that he would apprise fellow ministers of the issues in the railway sector at the upcoming Cabinet meeting, saying that the current situation required profound transformations and strategic interventions.

“Debts, inefficiency, lack of skilled professionals, and infrastructural challenges paint a complex picture necessitating meticulous scrutiny,” stated Radulovic.

He stated that these companies needed professional management, as well as board members, that would break the previous practice of appointing management based on political affiliation.

“What I can already announce is that the status of some companies will certainly change soon. The final decision will come after a specific analysis based on the agreement we have with the World Bank. The Ministry of Transport and Maritime Affairs will soon begin preparing a Railway Law, which will undoubtedly be a crucial challenge. We will do everything to ensure that, due to the seriousness of the situation, this new piece of legislation is ready in the first half of next year or perhaps even in the first quarter,” stated Radulovic.

He expressed satisfaction with the fact that the European Commission had approved the largest individual grant that Montenegro had ever received from the European Commission.

“It amounts to €112.6 million and is awarded for the reconstruction of the railway section from Bar to Golubovci. This amount will be accompanied by a loan of equal amount from the EBRD and the EIB, making it one of the largest capital investments currently in Montenegro. This financial support from the European Commission is a confirmation of Montenegro’s commitment to European Union membership as one of the key strategic priorities of this Government,” said Radulovic.