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Passenger Carriages Likely to Be Added to List of Spheres Credited Via National Entrepreneurship Support Fund

Business Materials 16 October 2006 19:02 (UTC +04:00)

Azerbaijan`s Economic Development Ministry is ready to view an issue on expanding the sphere of crediting at the expense of the National Entrepreneurship Support Fund. According to Heydar Babayev, Azerbaijan`s economic development Minister, today, there are no services, including passenger carriage among the spheres encompassed by the National Fund. Therefore, drivers cannot appeal to the Fund to obtain a credit in order to pay for the carrier, trend reports.

According to him, possibilities on receiving carriers through credit are set up to expand as soon as the period of validity of the licenses on passenger traffic was extended up to 5 years. He does not consider presenting guarantees to obtain grants expedient, as it may bring to monopoly.

The international practice shows that passenger traffic and freight services are the largest part of the economy. That is why, we shall do our best to create favourable conditions to expand this sphere, and introduce this kind of services to the list of services crediting by the national Fund, pointed out Mr. Babayev.

According to Deputy Transport Minister, budget incomings from passenger traffic have become to increase. In preceding years, there were a lot of facts on violating tax payment, particularly by private owners of carriers. However, with the introduction of differential signs starting from this year, facts on avoiding taxes has reduced. If the State Budget received 1 m. AZN from passenger traffic in 2005, then over 9 months of 2006, it has collected 6 m. AZN. According to Mr. Panakhov, the next few years, these incomings will become even larger.

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