Ministry of Transportation offers rail rates adjustment
Russian Transport Ministry proposes to adjust the railway rates by 7% in 2013, the Russian Transportation Ministry said.
Transport Minister Maxim Sokolov said at a meeting on the long-term railway tariff policy with Prime Minister Dmitry Medvedev, who is on a working visit to the Siberian Federal District that this level adjustment will ensure only medium-term break-even operation of railroads.
"If we are talking about its investment activity, it is necessary to seek other sources," says Sokolov.
The official also added that the 7-percent increase does not take into account the additional costs incurred by the Company from paying property tax, which goes into effect next year - about 0.7%, and by 2019 these additional costs will be about 2.7% in the railway tariff.
In addition, upon entry into force in 2013 of an agreement regulating access to rail transport within the Common Economic Space, with common tariffs, RZD will have incurred additional losses of about RUB 7 billion.
Sokolov is also sure about the need for changes in legislation, namely amendments to the 115th Federal Law "On Concession Agreements" in order to authorize the Russian Railways to serve as the grantor.
