Government to finalise decision on PPV fare increase soon
/ Our Today
administrator
Transport Minister Daryl Vaz has assured public passenger vehicle (PPV) operators that a final decision on the fare increase for the sector will be made in the coming weeks.
The Government approved a 35 per cent fare increase in October 2023, however, only a 19 per cent hike was implemented.
The additional 16 per cent was scheduled for implementation in April 2024, but due to high inflation, the fare adjustment has not been made.
Providing an update on the matter during a press briefing at the ministry in New Kingston on Thursday (May 22), Vaz informed that the Bank of Jamaica (BOJ) has completed a detailed analysis on the impact that the 16 per cent increase would have on the inflation rate.
“Following this analysis, I will be taking a submission to Cabinet in the coming weeks for [deliberation] and… a final decision on the fare increases,” he declared.
Vaz, who noted that the inflation rate is declining, said he was “not quite sure if it has reached the state where the 16 per cent increase won’t have a significant impact on it”.
“But I want to thank the transport operators and to let them know that we have not forgotten them,” he added.
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