A proposed shake-up of public transport in Northern Ireland will see almost £13 million in savings over five years.

Regulation of fares will be agreed between Translink and the Department for Regional Development (DRD) amid European pressure on transparency and standards for performance, a consultation on reform said.

It has been more than 40 years since the last major revision of the law.

Better integration of services is planned, making it easier to link routes and a new agency will be created within the DRD.

Regional Development Minister Conor Murphy said: "I want to make public transport people's first choice not last resort. Our public transport legislation is outdated. It is over 40 years since the last major revision."

Savings could be made through running smaller buses. There will be around 15 extra jobs involved in the creation of the 117 person-strong agency within the DRD for designing and managing services. It will design and manage public services and secure their provision from transport operators.

Translink will carry most of the responsibility for providing services and there will be no privatisation although private operators will be able to use bus stations when carrying out a public service.

Ways of overhauling unprofitable routes will be discussed with local councils. Around £12.8 million should be saved within five years, the DRD said.

The minister added: "I am committed to providing a modern, sustainable, safe public transportation system which benefits society, the economy and the environment and which actively contributes to social inclusion and improving quality of life."

There will be a series of public meetings across Northern Ireland over the next few months.