Disruptive technological change is upending traditional taxi licensing models, and regulators are looking at rules afresh. | Photo Credit: Reuters
126 years after the first modern taxi meter was invented by Wilhelm Bruhn, the challenge for regulators around the world is to arrive at the best way to determine how to charge for a cab ride.
Disruptive technological change is upending traditional taxi licensing models, and regulators are looking at rules afresh. At the three-day Global Summit of the International Association of Public Transport (UITP) here, representatives of Malaysia and Singapore said they were responding to new services such as Uber and Grabcar by modernising the traditional permit system to make it easier for drivers to enter, but also working on market-friendly regulation of companies.