Public Institution Railways of Montenegro has a loss of about 3,000 DEM for the first six months of this year, states the financial report of the company. Business income of the company for the first half of the year were about 17.7 million DEM. In comparison with the same period last year, they were increased for 33%. Business expenditures were 28% higher than in the same period last year. From January till August this year, 465 tons of goods were transported. The turnover of goods is 1% less than last year in the same period. In the same period 1.14 million passengers was transported, which is 2% more than in the first seven months of last year. PI Railways of Montenegro would be transformed into joint-stock company and control package of shares would be owned by the state of Montenegro with about 83% of the capital value, states the report. It also states that the railways do not expect the increase in goods# transport that development of the company depends on. Financial report also states that the company regularly pays its obligations towards its employees, in line with the special collective contract and minimal price of labour.