Romania will spend around EUR 5.2 million on privatization reports for state – owned companies CFR Marfa and Tarom, which is ten times than initially envisaged. The members in the privatization commissions will receive total fees of EUR 73,000.

“New priorities came up in regards to the expenses for the privatization activity that the Transport Ministry will have to wind off in 2011, according to the agreements in the second stand-by loan between Romania and the International Monetary Fund, which refer to the privatization of up to 20 percent in Tarom on the Bucharest Stock Exchange or through a strategic investor, and the privatization of 20 percent in CFR Marfa through an IPO and with a strategic investor, until December 2011,” according to the Transport Ministry.

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(photo source: CFR)