Finance Minister, Audley Shaw, says he doesn’t expect an increase in taxi fares as the price of oil on the world market is not set to escalate.
Last week, several taxi associations said they would be making an application for a fare increase.
This, to cushion the impact of the increase in the Special Consumption Tax, SCT, on fuel.
It will take effect on Wednesday.
The proposed SCT on fuel is expected to yield over $7-billion.
According to Minister Shaw, the move is in keeping with the shift towards indirect taxation. He says it cannot be escaped.