CFR Marfă to be privatised by December 2012

Romanian Minister Ovidiu Ioan Silaghi declared that “the Romanian Ministry of Transport and Infrastructure commits to put into practice CFR Marfă’s privatisation by December 2012”, and underlined that “this objective will be achieved even in the most pessimistic scenario”.
On August 8, Ovidiu Ioan Silaghi met the representatives of the common mission of the International Monetary Fund, European Commission and World Bank in Romania, reunited for the 6th evaluation of the Stand-by Agreement concluded in March 2011. As regards CFR Marfă, discussions have focused on the phases of the privatisation process to obtain the best market price. Another topic debated was that of introducing private management to state-owned companies.
Therefore, the ministry has decided to extend the introduction of private management from CFR SA and CFR Călători, the two companies initially targeted, to other eight companies whose turnover exceeds EUR 7.3 Million.
During the discussions with the IMF delegates, the parties also stressed the measures for redirecting companies towards the market, reducing costs and increasing revenues, these measures being mostly focused on CFR SA.