VNR asks for 34.77 million USD in non-interest loans
The Vietnam Railway Corporation (VNR) has proposed borrowing non-interest loans worth 800 billion VND (34.77 million USD) to deal with its difficulties caused by the COVID-19 pandemic.
Hanoi (VNA) – The Vietnam RailwayCorporation (VNR) has proposed borrowing non-interest loans worth 800 billionVND (34.77 million USD) to deal with its difficulties caused by the COVID-19pandemic.
The proposal had been sent to the Commission for theManagement of State Capital at Enterprises.
According to Vu Anh Minh, Chairman of the VNRMembers’ Council, the corporation suffered losses of more than 1.3 trillion VNDlast year, and expected to lose an additional 942 billion VND this year.
If the pandemic lasts until next year, the VNR mightlose all of its equity and would not be able to pay salaries for employees, hesaid.
Therefore, Minh said, apart from the 34.77 millionUSD non-interest loans, the VNR also suggested authorities give supportpolicies to its 13,000 affected employees.
The corporation also proposed reducing the railwayinfrastructure use fees this year and in the following years, and reducing orexempting the land use fees for railway transportation firms this year andextending the fee payment deadlines.
Over the past five months, the railway sector earnedmore than 1.11 trillion VND in revenue, equivalent to 81.6 percent of thefigure recorded in the same period last year and 60.1 percent in the period in2019, when the pandemic had yet to break out.
At present, 1,169 employees of the VNR have theiremployment contracts suspended and 136 others have taken unpaid leave./.
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Illustrative image (Source: thanhnien.vn) 
