Tuesday, May 21, 2024
HomeBlogPunjab's Speedo Bus Service faces shutdown due to financial crisis

Punjab’s Speedo Bus Service faces shutdown due to financial crisis

LAHORE – In a disturbing situation for Lahore commuters, the Punjab Government’s Speedo Bus Service, which was established to offer superior public transportation, is on the verge of collapse.

Despite its mission to provide cost-effective transportation solutions, the service is facing a severe financial problem, compounded by rising fuel prices, inflation, and declining income.

The Department of Transport, which is in charge of the service’s operations, has faced criticism for failing to address the rising issues.

According to reports, no specific action plan has been developed to keep the Speedo Bus Service functioning, and no funds have been requested to acquire buses for the upcoming fiscal year.

Contractors who manage the service have voiced reluctance to continue operations after March 2025, citing unsustainable financial demands.

Of particular worry is the Speedo Bus Service, which operates on Metro Bus feeder routes and is on the verge of bankruptcy.

Although the deal for Speedo Buses on feeder routes is valid until June 2029, the current financial scenario raises question on its continuation.

If the Speedo Bus Service is halted, it will place a huge strain on the government’s finances, needing substantial subsidies to mitigate the impact on commuters.

According to reports, the government would be forced to pay a staggering $12.96 billion in subsidies if the service were to halt operations until 2029.



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