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Public transport fares could be cut by 5.4% next year

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  • Queen of sgForums
    驚世駭俗醜不啦嘰 moderatress
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    264,263 posts since Dec '99
    • Public transport fares could be slashed by as much as 5.4 per cent next year, the Public Transport Council (PTC) signalled on Wednesday (Aug 30) as it commenced the annual fare review exercise.

      For this exercise, the maximum fare adjustment quantum to be considered is -5.4 per cent, based on a -3.9 per cent fare adjustment quantum for this year’s exercise and a carry-over quantum of -1.5 percent from last year’s exercise.

      With the public bus industry transiting to the bus contracting model, bus operators will not be required to apply to the PTC for approval of fares. Train operators are to submit fare adjustment applications by Sept 29.

      With the PTC undertaking a review of the public transport fare adjustment formula and mechanism, this will be the last year the existing fare adjustment formula, pegged to changes in the Core Consumer Price Index, the Wage Index and the Energy Index over the preceding year, will be used.

      The PTC will announce its decision on the fare adjustment quantum in the last quarter of this year.

       

      todayonline

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