Transportation Authority to head a committee to address SAPTCO’s assets under current franchise

Saudi Public Transport Co. (SAPTCO) has received a letter from the Public Transportation Authority (PTA) referring to the decision of the Saudi cabinet to liberate the domestic bus transportation market, the company said in a bourse statement.

The decision includes forming a committee of government entities representatives led  by the head of PTA, in order to take necessary action to address the status of the SAPTCO’s assets and guarantee the service continuity during the transitional period, in light of the current franchise agreement.

The results of the committee should be submitted to the high commissioner within a period of 90 days, the clause includes.

The decision has no financial impact at the current time, SAPTCO added.

PTA held in June 2019 two workshops in which it discussed ways to find alternatives for the market competition and intercity bus transport liberalization.