Acting Prime Minister and Minister for Economy Aiyaz Sayed-Khaiyum has applauded the new taxi permit criteria as the bench-mark for transparency and accountability.

While handing out priority permits earlier this week, Sayed-Khaiyum said this not only opens up the public transport sector for the better, it enables taxi permits owners to be financially innovative and plan for their future.

“So now it’s very very transparent, it gives people a lot of confidence but also the fact that they’ve all been given an asset, an asset that can be used as collateral, as asset that can actually be sold and we hope obviously that they’re not going to sell it immediately but that they’re going to use that for a source of income for themselves and also you know they would have interest rates of less than five percent and they can use that as security too.”

Under the new system, 34 taxi zones have been identified across the country with six zones in the central division, 18 in the western division, six zones in the northern division and in the maritime division, four zones.

Land Transport Authority Board Chair Vijay Maharaj says an independent panel of five individuals have been selected to oversee all taxi permit applications.

Maharaj says the rejected applications will also be reviewed.

Meanwhile 43 Fijians received their priority taxi permits with the freeze on permits lifted this year after been in effect since 2011.