YEREVAN. – Head of Armenian Association of passenger carriers claims oligarchs will not harm, but help Yerevan transportation sector.

Oligarchs are investing surplus profit to passenger transport which is rather useful, Hrant Yeghiazaryan.

“Cost of public transport has long been higher than the fare. Let the oligarchs invest in unprofitable business and save it at the expense of their income. The residents of Yerevan will benefit. Private companies, having no one behind them, are hardly making ends meet,” he said.

The Yerevan Municipality’s recent decision to increase the public transport fares in the city had brought about outbursts, several groups were formed in the social networks, and the initiatives were staging protests and distributing pamphlets against this decision. As a result, the Municipality decided to reduce fares from AMD 150 to 100.