The Speedo Bus Service, launched by the Punjab Government to enhance public transportation in Lahore, faces an imminent collapse, spelling trouble for commuters in the city.
Despite its original objective of providing cost-effective transit options, the service finds itself in dire financial straits exacerbated by surging petroleum prices, inflationary pressures, and diminishing revenues.
Criticism has been leveled at the Department of Transport, tasked with overseeing the service’s operations, for its perceived inaction in tackling the mounting challenges.
Concerns mount as reports indicate a lack of concrete strategies to sustain the Speedo Bus Service, with no efforts made to secure funding for bus procurement in the upcoming fiscal year.
Contractors engaged in managing the service express reluctance to continue beyond March 2025, citing unsustainable financial strains.
Of particular worry is the fate of Speedo Bus operations on Metro Bus feeder routes, which face the looming specter of bankruptcy.
Despite existing agreements extending the service’s presence on feeder routes until June 2029, the current financial climate casts doubts on its viability.
A potential suspension of the Speedo Bus Service would burden the government treasury, necessitating substantial subsidies to cushion the blow for commuters.
Reports suggest that the government may be obligated to disburse a hefty sum of 12.96 billion rupees in subsidies if the service ceases operations until 2029.
