The Government is reining in the breakneck speed at which the taxi population has been growing in recent years.
In a statement released on Friday, the Land Transport Authority (LTA) said Singapore's taxi fleet - which has grown by more than 40 per cent to more than 27,000 since the industry was liberalised in 2003 - will only be allowed to grow 2 per cent per annum up to end-2013.
After which, the growth rate of each taxi operator's fleet will depend on taxi availability standards yet to be confirmed.
The fast pace at which the taxi population has been growing - at an average of nearly 5 per cent per year since 2003 - has been a cause for concern. Cabbies have been complaining that it is harder to find fares these days, while ironically, commuters have been griping that it is still hard to find a cab when they need one.