The Transport Ministry said private-hire car companies are not responsible for driving up Certificate of Entitlement (COE) prices. It said there’s no evidence to support such a claim, noting that these firms have not submitted higher bids or reserve prices than other bidders. Parliament has been told that demand for COEs from private-hire car companies, as well as the overall population of private-hire cars has been stable. There are also no plans to establish a new COE category for private-hire cars as this could lead to higher costs for users.
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