ECONOMY

Railway company plan is approved

The government decided at yesterday’s Cabinet meeting its next moves toward streamlining the loss-making Hellenic Railways Organization (OSE). The draft law, to be submitted next week, provides for the voluntary transfer of 1,350 OSE employees to other state positions and for a 20-percent decline in salary costs, which now amount to 387 million euros. In addition to reducing staff, costs will also be cut by restricting benefits and overtime pay. This also paves the way for the entry of a strategic investor for TRAINOSE, the operational arm of OSE, with a 49-percent stake and the acquisition of its management, while fares are to be liberalized.