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Taxi fares were deregulated in 1998. National University of Singapore's Associate Professor Lee Der Hong noted that the deregulation was to "allow more competition into the mix and encourage more players into the field". But the current landscape is practically a monopoly or duopoly, the transport expert said.
Arguing that there is an urgent need for the Government to intervene, Assoc Prof Lee said: "The situation is at a terminal stage ... The market mechanism is not working, if it was a competitive market, passengers should see a price drop and improved service quality but what we see is the opposite.
Arguing against imposing surcharges during periods when there is high demand for taxis, Assoc Prof Lee said that the midnight surcharge is the only surcharge which is justified - as demand will be lower during the wee hours and without a surcharge, there is little incentive for taxi drivers to be out on the roads. He added that according to a study done by his students, call bookings do not make a difference to the amount of time that passengers spent waiting for taxis.
- http://www.todayonline.com/Singapor...market,-are-taxi-fares-getting-out-of-control
Arguing that there is an urgent need for the Government to intervene, Assoc Prof Lee said: "The situation is at a terminal stage ... The market mechanism is not working, if it was a competitive market, passengers should see a price drop and improved service quality but what we see is the opposite.
Arguing against imposing surcharges during periods when there is high demand for taxis, Assoc Prof Lee said that the midnight surcharge is the only surcharge which is justified - as demand will be lower during the wee hours and without a surcharge, there is little incentive for taxi drivers to be out on the roads. He added that according to a study done by his students, call bookings do not make a difference to the amount of time that passengers spent waiting for taxis.
- http://www.todayonline.com/Singapor...market,-are-taxi-fares-getting-out-of-control
