BAKU, Azerbaijan, June 1. Azerbaijan may establish a car recycling fund, Trend reports.
This issue was reflected in the amendment to the Law of the Republic of Azerbaijan "On Industrial and Household Waste", which was discussed at a joint meeting of the committees of the Milli Majlis (Parliament) on natural resources, energy and ecology, and on economic policy, industry and entrepreneurship.
According to Article 14-8 of this law, in order to finance benefits and lump-sum payments, as well as to stimulate and encourage measures for the disposal of vehicles, a body (institution) determined by the relevant executive authority creates a fund for the disposal of vehicles.
The Fund will be a target budget fund and will be financed from such sources of income as recycling fees, loans and grants, voluntary donations from legal entities and individuals, contributions from international organizations and other donors, and other sources not prohibited by law.
The procedure for the formation and use of the funds is established by the body (institution) determined by the relevant executive authority.