Dubai: Dubai Taxi Corporation will replace Dubai Transport Corporation, according to a decree issued by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, in his capacity as Ruler of Dubai.
The new law Annuls Law No 5 of 1994 that set up Dubai Transport Corporation, reported WAM.
Meanwhile, Sheikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of Dubai Executive Council, issued Executive Council Resolution No 48 of 2016, which stipulates that Dubai Taxi Corporation will enjoy a legal identity, with financial and administrative independence.
It will have a capital of Dh100 million, that can be increased by the Roads and Transport Authority’s (RTA) board of directors, the report said.
Dubai Taxi Corporation’s objectives are to provide a comprehensive transportation system through taxi and specialized transportation services in the UAE and abroad. The corporation will aim to engage with the private sector by providing transportation services for passengers and encouraging investments in this area.
Dubai Taxi Corporation’s specializations will be to improve the transportation sector as per Dubai’s approved strategic plans. In order to achieve its goals, the corporation will conduct the necessary studies and research for designing, establishing, managing, operating and maintaining the transport system, said the news agency.
The law reportedly authorizes the corporation to own, use and lease land plots, properties, vehicles, equipment and machinery to accomplish its objectives. It can also set up, own and lease workshops for maintaining and repairing its vehicles.
The corporation is also allowed to set up petrol stations to provide its vehicles with fuel. It can also acquire loans and financing. The corporation’s board will comprise RTA’s board of directors and the corporate’s executive body, reported WAM.
