The Government is indicating that public passenger vehicle operators will have to wait a little longer to hear whether they will be granted a 16 per cent fare increase at once or in tranches.
That was part of the discussions at a meeting of ministers and taxi operators at the Half-Way-Tree Transport Centre this morning.
The 16 per cent represents the second phase of the 35% fare increase approved by the Government in 2023.
19 per cent was implemented that year, and the remaining 16 per cent was due in 2024.
However, that implementation was deferred by the Government due to varying economic shocks.
The situation has long frustrated the operators who have raised financial concerns.
The matter came to a head over the weekend with the operators’ plan to withdraw their service today.
However, that plan was curtailed when the Government convened a meeting with the operators this morning.
Speaking at that meeting, Finance Minister Fayval Williams urged the operators for two weeks to allow deliberations to take place.
The war in the Middle East is one major factor contributing to the rising fuel costs on the island.
Mrs. Williams argued that since its commencement, the Government has been absorbing close to $4 billion to cushion the impact on citizens.
Speaking on the matter, Transport Minister Daryl Vaz noted that deliberations on the 16 per cent fare increase follow a Draft Cabinet Submission which will be handed over to the Finance Ministry today.
Meanwhile, Mr. Vaz has signalled his commitment to negotiate a concessionary fare with toll operators so that public passenger vehicle operators can benefit.
He said he will begin the talks next month.
