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“Flagfall” is a taxi word that means the minimum cost for hiring a taxi. When the taxi meter is started, your cost starts at the flag fall value, and increases with distance travelled or time taken. When the passenger steps inside the taxicab, the flagfall condition is triggered and the taxicab driver can start the taximeter.
Issues of high traffic and demand in certain locations and areas, particularly in the downtown area and other major buildings and establishments around the island, require the provision of dedicated taxi stands instead of having only flag down taxis. As of December 2022, there were 14,084 taxis and 46,477 PHVs (chauffeur) in Singapore. [1] [2]
The going cost for a licence in 2011 was around HK$5 million – an increase of 36% from the year before. In 2015, the market price peaked at HK$7.25 million. As of 2024, the market price has gone down to HK$4 million. [14] [15] [16] The trading of taxi licences is easy, and legislative regulatory control hardly exists.
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The first iteration of the LTFRB was established on November 17, 1902, through the passing of Act No. 520. [2] The commission is in charge of classifying vessels, merchandise, and passengers in with reference to transportation under the coastwise trade, and fixing the maximum rates to be imposed on the vessels and merchandise of different classes, and people that are being moved from one point ...