A 10-percent salary reduction in Federation’s Railways is a precondition for making the recently approved loan operational. The BAM 80 million long-term loan for ZFBiH’s financial consolidation was recently cleared by the Government of FBiH to free the company of its burden of debt. After that approval for a loan guarantee was give by Parliament, but on the condition of cuts in labour costs.
In line with that, the management of ZFBiH has prepared changes in the Collective Agreement backdated to January 1, 2010 whereby salaries are reduced by 9.8 per cent. The average salary in this rail company has been BAM 945 – by around 20 per cent above the entity average.
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