Ukraine. Minister Omelian approves Ukrzaliznytsia's financial plan despite it is 'obviously weak'


The Ukrainian Infrastructure Minister has approved a financial plan of Ukrzaliznytsia PJSC for 2017 to prevent the company's shutdown, although it is “obviously weak”, the ministry's press service stated on its Facebook page.

“The financial plan is obviously weak. It does not reflect the full range of the company's focus areas for the next year. The financial plan has been generally approved to prevent the company's shutdown. However, we expected a different approach,” Ukrainian Infrastructure Minister Volodymyr Omelian said.

Omelian has been insisting on developing a comprehensive and consistent financial plan since September 2016.

According to Ukrainian Infrastructure First Deputy Minister Yevhen Kravtsov, the current financial plan has no strategic direction and does not define the company's further development.

“It is a set of steps, but the entire route has not been determined. Having such a financial plan, Ukrzaliznytsia will be remaining in place in the best-case scenario,” Kravtsov noted.

Currently, the draft financial plan has been submitted for the approval of central executive bodies, and then it is expected to be submitted for the approval of the Cabinet of Ministers of Ukraine.   


Readers choice: TOP-5 articles of the month by UkrAgroConsult