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Exclusive-Ukrainian Railways plans freight tariff increase to tackle debt
['Mon', 'Sep', 'Min Read']
Yahoo Finance
By Pavel Polityuk and Max HunderKYIV (Reuters) -State-owned Ukrainian Railways has prepared a recovery plan that includes raising freight tariffs to help control its debt amid intensified Russian attacks and falling cargo deliveries, CEO Oleksandr Pertsovskyi said in an interview.
Ore and grain shipments have also declined because of Russia occupying Ukrainian territory and pollution of farmland by landmines.
Despite attacks on railways and seaports, Russia has failed to slow Ukrainian exports, an important source of revenue for both military and social spending.
THE $728-MILLION QUESTIONThe loss of Russian cargo transit, once worth $1 billion annually, added to upcoming Eurobond payments and costly network repairs following Russian attacks, have forced Ukrzaliznytsia to act quickly.
Some important customers have criticised the proposed tariff increases, calling the business inefficient and threatening to stop using its services.
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'freight'
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'pertsovskyi'
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'debt']