More COEs next year, free train rides not decided: Lui
Govt doing utmost to make public transport convenient: Minister
Transport Minister Lui Tuck Yew has advised aspiring car owners to wait till next year when the supply of Certificates of Entitlement (COE) increases.
But he also stressed that the Government is doing its utmost to make public transport as convenient as possible.
During Channel NewsAsia's Ask Minister programme, which was broadcast on Tuesday, Mr Lui took questions on a broad range of transport issues, from free trains rides to making roads safer for cyclists.
In the last bidding exercise, COEs for smaller cars cost nearly $17,000 more than the premium for cars above 1,600cc. Mr Lui said it will take several bidding cycles over the next few months before COE premiums stabilise.
For those who want to own a car now, I would advise that if they can defer the decision till a little bit later on, when the COE supply actually picks up in 2014, that may be a better time to revisit the situation then.
- Transport Minister Lui Tuck Yew