Part 10/14:
In the 1980s, the government began capping vehicle ownership through the Certificate of Entitlement (COE) system, where prospective car buyers bid for rights to own a vehicle, effectively limiting growth to about 3% annually. Later, in 1998, Singapore launched electronic road pricing (ERP), the world's first congestion toll, which varies tolls based on real-time traffic conditions to manage peak-hour traffic efficiently.