There is good news for the Public Service Vehicle Permit holders as their permits will now be valid for a longer period.

Minister for Economy Aiyaz Sayed-Khaiyum says all current permit holders will automatically get a ten year permit from the 1st of October.

“Permits for taxis, hire cars, rentals, mini-buses and carriers will now be renewed for ten years instead of the current three. Road route license for buses will now be renewed for fifteen years instead of the current five to ten years and rental car companies no longer have to get approval from LTA simply to increase the size of their fleets.”

The announcement has been widely welcomed by taxi operators.

Taxi Driver 1, “I think it is a good idea, the taxi drivers can save some money. And I as a taxi driver, think it is a very good thing.”

Taxi Driver 2, “Less hassle for us – So Yea! It is a good thing.”

Taxi Driver 3, “I think it is a great plan by the government because it saves our cost and our time. Rather than running to LTA every three years, now we will only have to go once every ten years.”

Sayed-Khaiyum says a subsided loan facility will now be available for bus companies which have an annual gross turnover of less than $1.5m or to those operators who own only one taxi, mini-bus or carrier.

“To further assist small bus operators the Reserve Bank of Fiji has increased the funding available under the import substitution export finance facility to $100m to provide concessionary funding for public transportation. RBF will lend to mainstream banks at one percent and these banks will not charge more than five percent to these operators for the loans.”

The PSV operators will have to adhere to a New Service Standard Charter to take their service delivery to a new level.