Financial Tribune - Revenues generated from traffic schemes underway in the Iranian capital are being spent on expanding Tehran’s public transportation network

Tehran Municipality has announced that revenues earned from traffic and air pollution schemes underway in the capital city of Tehran are being spent on expanding the city's urban transportation system.

This came in response to criticism from media outlets and citizens censuring Tehran Municipality over the introduction of new charges that have made car ownership costlier.

TM's Transportation and Traffic Organization chief said cheap loans will be given to Tehran-based transport companies planning to buy new buses and minibuses, Mehr News Agency reported.

Mohsen Pourseyyed-Aqaei added that loans with an interest rate of 4% will be extended to transport companies to help them renovate their bus and minibus fleets.