Friday, May 04, 2012

Vehicle growth rate cut may be delayed

SINGAPORE: Prices of Certificate of Entitlement (COE) may cool off in the months ahead.

Minister for Transport Lui Tuck Yew said he has tasked the Land Transport Authority (LTA) to look into delaying initial plans to cut the vehicle growth rate to 0.5 per cent from the current 1.5 per cent by August.

Speaking on the sidelines of an event on Friday morning, Mr Lui said he understands motorists' concerns of rising COE prices.

That is why he has asked LTA to study if there is flexibility in the plans to cut vehicle growth rate to 0.5 per cent.

He has also asked LTA to see if it can defer the adjustments for over-projection of vehicle de-registrations in 2008 and 2009.

The adjustments will be spread from April 2010 to January 2014.

LTA is expected to complete its study by the end of the month.

- CNA/wk

View the original article here

Source From Channel News Asia

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