After three-fold increase of fares in October 2009, and the subsequent increases of fares to 0.20 manat in December 2011, the passenger flow fell so much that can not return to the previous level.
According to the State Statistics Committee (SSC), 195.6 million passengers used metro in 2012. This is by 7.1% more than in the previous year. However, compared to 2009, passenger flow in metro dropped by 10.5 million people, or 5.1%. It is noteworthy that, compared to 2005 (147 million people), the volume of passenger carriages in the metro grew by 40%. In contrast to the bus transport, card payment system is used in metro, what allows to register the number of passengers. But at the same time, it should be stressed that the passengers were shocked by the increase of fares on the subway. This is particularly noticeable in rush hours, when the wagons, are overcrowded. Therefore, experts doubt the rigidity of financial control in the underground, which, in their view, can be achieved by connecting the additional terminals to the fare system of control by the Ministry of Taxes. 08B
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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