Caretaker Transport Minister: Several State-Owned Companies Have High Debt Levels and Poor-Quality Services

Speaking at a briefing in the Council of Ministers on May 7, caretaker Transport and Communications Minister Korman Ismailov said that improving institutional quality and adherence to the principles of legality, transparency, accountability, and anti-corruption efforts were key priorities of the Ministry of Transport and Communications during the caretaker government’s mandate.

He noted that the ministry had published financial and economic data on all state-owned enterprises and companies within its system.

According to Ismailov, this information is important not only for citizens who use the services of these companies, but also for businesses in the sector, trade unions, academic institutions, and students studying finance, corporate governance, and economics.

“The aim is to enable a clear trace of how taxpayers’ funds and state resources have been managed through these enterprises over the past five years,” said Korman Ismailov.

He noted that, regardless of changes in governments and political cabinets, a number of state-owned companies remain heavily indebted, while working conditions for around 27,000 employees continue to be problematic. According to him, the quality of some services provided is also not meeting expectations, citing examples such as Bulgarian State Railways and Bulgarian Posts, among other enterprises.

Ismailov added that over the years, numerous management boards have been replaced, various business reports, recovery programmes and investment plans have been drafted, yet systemic problems persist.

“My intention was to put all of this on the table so that the minister who takes over the portfolio has access to a database, information and analysis, as well as clearly outlined reforms, policies and strategies,” he said.

He concluded that some of the initiated reforms are still not fully completed, but significant work has been done towards improving the condition of the most important state-owned enterprises in the sector.

Source: BTA