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SINGAPORE: Car owners will now have the option to exchange their Preferential Additional Registration Fee (PARF) and the Certificate of Entitlement (COE) rebates for cash.
The change follows a government review of the rebates to make it easier for motorists to give up their cars and switch to public transport.
From September 1, registered owners of unused and valid PARF/COE rebates can apply to the Land Transport Authority for encashment.
Once their applications are processed, they will receive a refund equivalent to the rebate amount.
To facilitate the implementation of this change, PARF/COE rebates with expiry dates between July 1 and September 29 will be extended to the end of September.
Those affected will be informed of the revised expiry dates within the next two weeks.
Motorists who wish to use their PARF/COE rebates to offset the upfront taxes for a new vehicle can continue to do so.
The LTA said it will continue to issue rebates to car owners upon de-registration of their vehicles. The rebates will remain transferable and valid for 12 months to provide flexibility to vehicle owners.
Transport Minister Raymond Lim had announced in March this year that the government would be reviewing the PARF and COE rebates.
This was to tie in with the overall effort to make public transport a choice mode of transport for all commuters, including car owners.
The Automobile Association applauded the move and some car dealers said easier access to cash might tempt motorists to scrap their cars and not replace them.
However, not everyone agrees with this view. One transport analyst does not think this initiative will get motorists to switch from driving their cars to using public transport.
He said better information systems to take the frustration out of using public transport would, on the other hand, convince motorists that taking buses or the MRT is a reliable option.
Panels giving estimated arrival times are available at some bus stops, but providing accurate, factual information is more useful.
Associate Professor Chin Hoong Chor, Department of Civil Engineering, National University of Singapore, said: "Any estimate is subject to errors and is difficult.
"I think it's more realistic and perhaps more appropriate to tell how far the bus is away from the bus stop (such as) it is three bus stops away, instead of ten minutes or five minutes away."
He said this system would allow passengers to judge bus arrival times for themselves.
- CNA/yb/so
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