Saleh Al-Jasser, Minister of Transport
The Saudi Cabinet's decision to extend for one year the franchise contract of Saudi Public Transport Co. (SAPTCO) ensures the stability of the Kingdom's bus transportation market, Minister of Transport Saleh Al-Jasser said on his official Twitter account.
The move will pave the way for competition in this promising business, he added.
The Cabinet, chaired by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, agreed to extend SAPTCO's franchise contract for one year starting 1/7/1442 AH to 30/6/1443 AH, according to data compiled by Argaam.
In October, SAPTCO announced the Cabinet's in-principle approval on the findings of the committee formed to review the company's assets.
In 2019, the Cabinet decided to approve dividing the intercity bus transport market into franchise areas. The decision also included forming a committee of government entities representatives, led by the head of the Public Transport Authority (PTA), in order to take necessary action to address the status of the SAPTCO’s assets and guarantee the service continuity, in light of the current franchise agreement.
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