State to Back Bulgarian Post with up to 4.6 Mln Euro by end-2013
Thursday, 12 September 2013
State-owned operator Bulgarian Post is expected to get by the end of the year up to 9.0 million levs ($6.1 million/4.6 million euro) in support from the state for providing services in uneconomic areas of the country, the communications ministry said.
A few weeks ago 2.0 million levs from the state budget were allocated to the postal operator, and now the ministry will come up with a further 2.0 million levs of own funds, it said in a press release, quoting communications minister Danail Papazov. Following the recent revision of the 2013 state budget, another 5.0 million levs are expected to go to Bulgarian Post, he added.
"We have no intention whatsoever to privatise Bulgarian Post," Papazov said in the statement, adding that the company is implementing a rehabilitation programme to avoid bankruptcy.
Earlier this month local media quoted Papazov as saying the company is seeking a strategic partner to restructure the company.