The government seized Wednesday the operations of Reolian Public Transport Co, one day after the public bus firm filed for bankruptcy because it ran out of money to pay its workers.
According to Business Daily paper the decision could force a reshuffle of the three-operator bus system introduced just two years ago.
Reolian filed for bankruptcy late on Tuesday, blaming the government’s refusal to increase its operating subsidies.
In a statement, Reolian pledged to continue operations “in order to avoid any disruption to the bus services and any disturbance to the livelihood of the travelling public”.
But the Transport Bureau decided to take the matter into its own hands and seized all of Reolian’s facilities, buses and equipment for a six-month period.
Seizure is an option available to the government in the event of “service disruption,” according to the contract.(macaunews)