Azerbaijan, Baku, Dec.29 /Trend, A.Yusifzade /
An average amount for public transport and taxi fare in Iran has been increased by 15 percent, Hamzeh Shakib, the head of Tehran City Council's Technical Development Commission, was quoted by ILNA as saying.
A new fare for public transport and taxi was approved at a meeting of the Iranian Transportation and Fuel Management Office.
Seyyed Shams al-Din Hosseini, Iranian Minister of Economy and Finance, confirmed a new transport tariff.
The total amount of fully subsidized fuel sold in Iran will be reduced from 45 million liters to 39 million liters per day, Mohammad Rovanian, the head of the Iranian Transportation and Fuel Management Office, was quoted by Mehr news agency, as saying.
The Iranian government plans to gradually reduce energy subsidies over five years. It has promised to compensate low income families with direct cash handouts.
Earlier, Dariush Qanbari, a member of the parliament, said that direct cash payments would not make up for price hikes.
"Based on the economic experts' opinion, the country's inflation rate will increase by 20 up to 70 percent in the coming year. The governmental compensation policy must be conducted for the weaker segments of the society to be able to meet their basic needs,'' Qanbari told the semi-official ILNA news agency this month.