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World Bank completes survey of Belarusian railway transport, logistics sector

Economy 21.02.2019 | 17:24
An archive photo
An archive photo

MINSK, 21 February (BelTA) – World Bank experts have completed a survey of railway transport and logistics sector in Belarus and have given recommendations on reforming the railway sector, BelTA learned from the World Bank representative office in Belarus.

The World Bank believes that by remodeling the organizational structure, revising the tariff policy, and strategically using digital technologies Belarus will be able to beef up the competitive ability of railway sector. It will also help improve the quality of passenger transportation and the industry's contribution to the national economy.

World Bank Country Manager for Belarus Alex Kremer said: “Belarusian Railways is not simply a company but a state industrial group, which oversees 29 different organizations. Each organization has its own balance sheets, accounting, assets, and decision-making processes. The merging of all these organizations into a single state-owned enterprise can improve the overall effectiveness of administration and the competitive ability of the sector.”

The survey recommends that the development of a new strategy on developing Belarusian Railways should begin. As part of the process assets should be reevaluated, accounting methods should change, commercial strategies and business plans should be developed separately for passenger transportation and freight transportation.

As an important first step in the lengthy transformation process the survey suggests that Belarusian Railways should analyze markets and forecasts of passenger and freight transportation, investment needs, and organizational structure.

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