The government says the highest winning bid among the 643 bids it received recently for 200 eight-year taxi licences was about MOP1.05 million (roughly US$131,250), and that lowest was MOP868,008. Transport Bureau official Luís Correia Gageiro said the competition had been less fierce than in previous auctions. Mr Gageiro attributed this to increases in the costs of running and maintaining cabs, and to traffic congestion. TDM radio quoted unidentified bidders as saying the average rent for a licensed cab was about MOP20,000 a month, implying an income of about MOP2 million per cab over the eight years the licences are valid.
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