In response to the questions brought up by various MPs, Transport Minister Lui Tuck Yew has responded that there will be no major changes to the Certificate of Entitlement (COE) market in the short term.
However, Mr Lui has assured that the suggestions brought forwards will be studied and responded at an appropriate time. This came after the recent changes that were implemented on the automotive industry, which has spawned feedbacks saying it was being too drastic.
He has also revealed that the current Off-Peak Car (OPC) scheme will be reviewed to provide a cheaper alternative for car ownership. In addition, a study will be conducted to find out if reduced COE premiums for light goods vehicles from heavy goods vehicles is viable.
