The 1Malaysia Taxi Scheme (TEKS1M) was launched by the government not too long ago. From time to time, I have received inquiries from readers interested to set up a taxi service or run a school bus.

To assist the above two groups of readers, I read a very informative article on the subject and for fear that some readers might have inadvertently missed out on the article which appeared in the Star Newspaper on 12th November 2013 edition, I have therefore decided to highlight it here for the benefit of readers. After all, what is good should be equally shared with others.

The following article is therefore not necessarily of my own, It is infact by Star writer, Teh Eng Hock. The article appeared in an article “Bank Receives 781 Application for 1Malaysia Taxi Scheme” which the authorities launched recently.

With this article, I hope it will help readers who have intent to set up a taxi or school bus entity.

It is said, Bank Simpanan Nasional (BSN) is the sole authorised bank to give loans for the scheme. Taxi services are important. As the taxi services are currently beleaguered by problems, setting up the above scheme is infact much awaited by the public. It is hoped, that with it, at least some of our nations taxi woes can be eliminated.

To date, BSN have received 781 applications from taxi operators. 176 of them have since been approved. A total of 47 were however rejected. Some 360 of them are pending process by the bank. Others have yet to provide proper documentation by the taxi drivers.

The Suruhanhaya Perkhidmatan Awam Darat (SPAD) is provided the task of dealing with taxi drivers. Initially, BSN said it has received some 91 applications in July. Between 20 August to September, it received 690 applications.

Of the initial group of applicants, so far 73 of them have been approved. Their new taxis will be delivered soon.

Tan Sri Syed Hamid Albar, SPAD’s Chairman, revealed though 1000 units of Proton Exora have been allocated under the TEKS1M scheme, BSN has only approved 85 of them.

SPAD is in the process of promoting the scheme amongst taxi owners. It is also playing its role of issuing permits. As reiterated, BSN is responsible for loan applications and financial disbursement of loans.

The process of loan applications under the 1Malaysia Taxi scheme will take 5 working days for applications to be processed.

BSN also added, under its Budget Taxi Loan Scheme (SPTB), it has approved 2,028 loans. Some RM70 million have been disbursed so far.

So much then for the 1 Malaysia Teksi Scheme. Hopefully, the standard of taxi services in Malaysia will be set to improve. This augurs well for the country, especially tourists. We must not forget, 2014 is Visit Malaysia year. Taxi drivers will have to play a greater role to make the campaign a success.