Taxi companies get green light to implement dynamic pricing system

[SINGAPORE] Taxi companies have been given the green light to implement a new "dynamic pricing" system, in which fares will vary according to passenger demand.

In a joint statement, the Land Transport Authority (LTA) and the Public Transport Council (PTC) said on Friday they have "no objections to the proposals" put forth by the cab operators on the new fare system, also known as surge pricing.

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