Economy, Domestic Economy

Gov’t Urged to Settle $71m Rail Debt

Gov’t Urged to Settle $71m Rail DebtGov’t Urged to Settle $71m Rail Debt

The CEO of Raja Rail Transport Company has called on the government to settle its 3-trillion-rial ($71 million) debt owed to this company as soon as possible.

“Because of numerous financial problems, Raja is not only incapable of expanding its fleet, but faces serious problems in providing the spare parts it needs, maintaining the trains and clearing its debts to contractors. If the government doesn’t pay its debt, we have no other choice but to increase ticket prices for suburban trains,” Mohammad Rajabi was also quoted as saying by ILNA.

Raja was established in November 1996 as an arm of the Islamic Republic of Iran Railways for improving the quality and quantity of railroad passenger services.

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