The Independent Consumer and Competitions Commission (ICCC) has several tasks to carryout in 2025 from monitoring to reviewing, and one of these reviews that it will be undertaking is that of public transport fares review.
The Minister for Rural and Economic Development and Member for Kandrian Gloucester Open, Joseph Lelang, said this will be done in the first part of the New Year.
“ICCC will proceed to undertake further review of PMV (Public Motor Vehicle) and taxi fares in the cities and around the country in 2025 due to overwhelming concerns raised by the general public about the fares charged,” said Minister Lelang.
In addition to this, the ICCC will also undertake an actual review of the Motor Vehicle Insurance Compulsory Third Party Regulatory Contract, which is now up for review in 2025.
“This review will relook at MVIL (Motor Vehicle Insurance Limited) Capital Expenditure Plans for the regulatory period to determine whether the premiums that MVIL charges is consistent with its price path that was determined in the review of 2023,” he said.
The ICCC was allocated K3 million in the 2025 National Budget and Minister Lelang said this allocation will enable the Commission to carry out as well the price reviewing of stevedoring and handling services, a market study of the oil palm industry and the marketing sector, and price surveillance to name some of them.