TAXI drivers decry a drop in their daily takings. Is the cabby's vocation recession proof? The rest of Singapore is going through difficult times in this economic downturn. Civil servants will have to accept a drop in their annual income this year.
Nonetheless, taxi drivers are asking for help. And it is up to the taxi companies to come to the aid of cabbies who are their business partners to help them weather these difficult times.
The market dynamics of taxi service have changed. Demand for taxis under the current pricing structure has declined. Supply has to adjust to meet the change in demand. Pricing could come down to generate more ridership - taxi drivers will have to work harder to generate more business volume and raise revenues. Why is the Land Transport Authority (LTA) stepping in to promote taxi ridership, which will increase traffic on the road?
This is inconsistent with its long-term policy to promote the use of mass transport modes like the MRT and buses.
Help should be given to taxi drivers who want to leave this vocation to find alternative employment.
There are other government agencies that give assistance to the retrenched and unemployed in the workforce.
The LTA does not need to duplicate their efforts.
The money can be put to better use to improve ride quality on buses and trains instead.
