Operators with school buses of less than 25 years can apply for loan

The School Bus Replacement Scheme, a loan scheme opened only for operators to replace school buses which are over 25 years, is now opened also to those who want to replace school buses which are less than 25 years.

The Land Public Transport Commission (SPAD), in a statement on Thursday, said the move to extend the scheme to school bus operators with buses which were less than 25 years old was made with the approval of the Finance Ministry.

It is aimed at improving the quality and service of school buses to ensure safety of students, it said.

The scheme, introduced in 2013, is part of the initiative by the government to ease the burden of school bus operators where a rebate of RM10,000 will be given to successful applicants and a subsidy of two per cent in annual interest rate per year.

The government had allocated RM10 million for the scheme.

Those interested are advised to visit any SPAD or Bank Simpanan Nasional office for more information.