YBPC faces losses of K5 mln per day, YRTA pushes cashless payment

The Yangon Bus Public Company (YBPC) in incurring a loss of about K15,000 per bus per day on passenger fares, according to an internal report of the company, said U Hla Aung, the joint-secretary of the Yangon Region Transport Authority (YRTA).

“The YBPC appointed staff to the buses to calculate the number of commuters per day. It found that as some unscrupulous passengers have not been putting the full payment into cash boxes, the company is losing K15,000 in fares per bus everyday,” said U Hla Aung.

“The YBPC is running 500 units. If passengers take free rides, the company faces losses of K5 million,” said U Hla Aung.

To combat this, the YRTA is trying to adopt a cashless payment system for bus fares with the use of prepaid cards.
The Yangon Region government’s Tender Supervisory Committee had invited tenders for the Yangon Payment Services (YPS) and had announced the list of shortlisted companies for YPS in the preliminary stage.

Excel KC Myanmar Co. Ltd was originally selected by the Tender Supervisory Committee on 10 January. But the company’s tender was revoked when checks showed noncompliance with rules. Afterwards, Any Pay Payment Services Co. Ltd and Asia Starmar Transport Intelligent Co. Ltd were considered for the project on 24 April in accordance with tender rules and regulations and their names were submitted to the Yangon Region government. At the Yangon Region Government meeting (20/2018) held on 17 May, the tender was granted to Asia Starmar Transport Intelligent Co. Ltd.
Asia Starmar is currently developing the new system and is working with related government institutions, said U Hla Aung.

“We have selected the tender winner for the YPS. The company is holding discussions with the related government institutions such as the Central Bank and the Myanmar Investment Commission,” he said. Meanwhile, the Power Eleven Company is also facing a slew of difficulties due to unscrupulous passengers and an unfamiliar card system.
“Around 80 per cent of bus lines do not see accurate full payment. Some passengers hand in torn and dirty notes, while some take free rides. Some passengers are even using counterfeit notes,” said Ko Tayoate Lay, the managing director of the Power Eleven Company.

Source: Global New Light of Myanmar

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Puma Energy", “MOGE”, “yangon new town”,"MECTEL", "hydropower", etc.