Stability Reigns: Sofia Real Estate Market Thrives Despite Uncertain Times
The real estate sector in Sofia has shown resilience in the face of ongoing pandemic challenges, maintaining stability across all segments in the first quarter of the year
Parliament has liberalized the rail passenger transport market after adopting amendments to the Railways Act on Friday, on second reading.
Thus, from June 16, 2019, foreign railway companies will have the right to transport passengers in Bulgaria, but this is unlikely to happen. The reason is the public service contract between the State and BDZ Passenger Transport, which expires in 2024. On its basis, the state subsidizes passenger transport by about BGN 175 million per year.
Because of the subsidy, it is unlikely that other foreign and Bulgarian private rail passengers will appear in our country before 2024, experts say in the rail transport.
Amendments to the law approved by Parliament are in response to a European directive. The fourth railway package enters into force in June 2019 and leads to full liberalization of rail transport. Carriage licenses will now be issued to the European Railways Agency.
So on June 16, 2019 rail carriers from EU member states will have access to railway infrastructure in the country and to service facilities to perform all types of rail transport services for passengers and cargo on fair, non-discriminatory and transparent conditions decided MEPs.
The Executive Director of the Executive Agency "Railway Administration" may restrict the right of access for transportation of passengers when such is now done on a contract basis for public transport services by rail and can distort the economic balance of the contract approved the National Assembly.
In this way the monopoly of BDZ Passenger Transport is preserved until 2024 when the public service contract expires.
The National Railway Infrastructure Company (NRIC) will determine the requirements for applicants, the conditions and procedures for issuing, renewing, modifying or withdrawing a single safety certificate for railway undertakings with an area of activity in Bulgaria. The certificate will be issued for a period of up to five years and will be renewed upon submission of an application by the railway undertaking, the parliament also decided.
The Railway Administration Executive Agency will maintain a national vehicle register that meets the general specifications for the national vehicle registers, according to an act of the European Commission, is recorded in the law.
MEPs also introduced a penalty of 20 to 50 levs for anyone who pollutes the reception hall at a railway station or a stop, as well as the platforms, railway tracks, lines and facilities at the station or interchange. The same amount of fine will also be imposed on those who pass through railway or railway facilities in a station or intermachine or through the station tracks and arrows outside the designated area for passage without special permission.
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