The Ministry of Transport and Infrastructure (MTI) will take over CFR SA branch Telecomunicatii CFR, after the company will extinguish a portion of the RON 235.06 M debt it owes to the state budget, by converting the remaining arrears into shares., Mediafax reports. “This was made possible by the bills not being paid in time issued for the work done for railway companies and the penalties accumulated as a result of those delays,” according to a MTI draft ordinance. In late June, Telecomunicatii CFR owed RON 235.06 to the state budget, the social insurance budget and special funds budgets.
Meanwhile, the arrears owed by the top 10 largest debtors to the state budget rose 10 pc in the first half, to RON 9.2 bln, over 2 bln euro. Half of the debt is owed by the Pit Coal National Company and the outstanding payment of railway freight operator CFR Marfa doubled, according to data from the National Agency for Fiscal Administration (ANAF).