ICCC Adjusts Public Transport Fares in Port Moresby and Lae
What happened
The Independent Consumer and Competition Commission increased bus and taxi fares in Port Moresby and Lae due to a recent surge in fuel prices. New regulated fares include K2 in Port Moresby and Kokopo, and K1.80 and K1.60 in Lae and Mt Hagen, respectively. Taxi fares are set at K6.70 and K5.90 per kilometre in Port Moresby and outside centres until December.
From thenational.com.pg
Why it matters
The ICCC regulated these fares based on cost movements, inflation, and the Fuel Index, aiming to allow transport operators to recover costs and earn a return on investment. The commission also required taxi operators to install and use calibrated taxi meters.
From thenational.com.pg
Who's involved
- ICCCRegulated and adjusted public transport fares in Port Moresby and Lae.
- Port MoresbyLocation where public transport fares were adjusted.
- LaeLocation where public transport fares were adjusted.
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The entities involved
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ICCC
Japanese nonprofit organisation
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Port Moresby
capital of Papua New Guinea
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Lae
city in Papua New Guinea