Minister of Finance Dr Nigel Clarke says there will be a temporary reduction in fares for persons who utilise the Jamaica Urban Transit Company (JUTC), to keep inflation within the targeted 4-6 per cent range.

The finance minister, who made the announcement in Parliament on Tuesday, November 21, said this reduction will see fares for regular passengers moving from $100 to $70 and for pensioners from $40 to $30.

Student fares will also move from $30 to $25.

“The government of Jamaica is very mindful of the PPV [public passenger vehicle] increase on the cost of living and also the need to support the bank of Jamaica in its efforts to return and keep inflation within the 4 per cent to 6 per cent range. Therefore, madam speaker, the government will be taking measures to dampen the impact of the announced increases in the PPV on the overall inflation rate,” Clarke said.

This reduction is set to take effect on January 1, 2024.

Clarke said there will be a further reduction in the regular fare from $70 to $50 as of April of next year.

Student fares will move from $25 to $20 and pensioners from $40 to $30.

The finance minister said that he anticipates that this temporary reduction will have a mitigating effect on the impact of the recent fare hike on the commuting public.

The Ministry of Science, Energy, Telecommunications and Transport (MSETT) recently announced a 19 per cent increase in bus and taxi fares which took effect on October 15.

An additional 16 per cent increase is to take effect on April 1, 2024.

The finance minister says this temporary adjustment in fares will last for 24 months.