In 2013, the revenues of the state JSC Baku Metro from passenger traffic amounted to 42.8 million manat, increasing by 4.8% compared with the previous year . However, it did not help him to reduce losses.
Contrary to the regulatory legal acts, Metro did not disclose financial statements. According to the State Statistics Committee, in 2013 the cost of maintaining the Baku Metro totaled 105 million 160.1 thousand manats. This 8.7 mln or 9% more than in 2012 .
Comparison of the data in passenger traffic ( 206.6 million) and expenditure for 2013 shows that last year the cost of travel in the Baku Metro grew from 49.2 gepiks ( 2012 ) to 50.8 gepiks at 20 gepiks fare. Meanwhile Metro does not provide information on the cost structure.
Metro losses partly covered by the state budget : in 2013 for the purpose envisaged to allocate 29.2 million manat.
Once in February this year on the basis of Baku Metro and JSC Azertunelmetrotikinti was created a single company, the new government decided to expel trade outlets from the subway passages, hallways and other areas. Besides, they removed outdoor advertising materials. Thus, Metro lost the revenue, the size of which previously had never been reported.
The last time the government revised the fare for travel on the subway in December 2011 ( 5 gepiks). Meanwhile the government does not address the issue of increasing the fare.
According to the State Statistics Committee, in 2013 the underground transported 206 672.9 thousand people (including beneficiaries), which is 5.6 % more than in 2012. In this case the board of Metro does not provide information about the structure of the passengers using the services of free subway. Passenger growth trend continued this year: in the three months the subway transported 4% more passengers than in January-March 2013. - 08B-
Economics
-
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.
-
At the COP29 event titled "Climate Finance Landscape in the South Caucasus and Central Asia" held on November 14, Roland Price, Regional Director of the World Bank for the South Caucasus, highlighted the substantial economic and environmental damage faced by the countries of the South Caucasus, which she estimated at around $100 million annually.
-
SOCAR Green, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), has signed a series of agreements at the COP29 summit aimed at bolstering the development of renewable energy sources, enhancing energy efficiency, and promoting sustainable growth in Azerbaijan.
-
The Islamic Development Bank (IsDB) is stepping up its efforts to mobilize Islamic banking resources in the fight against climate change, President of the IDB Muhammad Sulaiman Al Jasser said on Thursday during a roundtable at COP29.
Leave a review