PTC : It's Payback Time :

[globalcookie]

SINGAPORE: After three consecutive years of fare decreases, public transport operators could increase fares by up to 4.3 per cent,*as bus and train capacity is ramped up.

The Public Transport Council (PTC) announced this on Monday (Sep 3) as it begins the 2018 fare review exercise, which is based on a new formula that takes into account commuter demand and enhancements and growth in public transport capacity.

The PTC said that is the*maximum allowable fare adjustment quantum to be considered is 4.3 per cent, after taking into account a 3.2 per cent reduction rolled over from the 2017 fare review exercise. Last year, the PTC considered a 5.4 per cent fare reduction based on the old formula, but implemented only a 2.2 per cent cut.

The operators*may submit their fare applications to the PTC by Oct 1.

"The PTC has reduced fares by a total of 8.3 per cent*for the previous three consecutive years, largely due to the continued double-digit dip in energy prices," said PTC.**

Last year's energy prices, which will*be factored in this year's fare formula, rebounded by 26.2 per cent over the previous year.*

Meanwhile, other macroeconomic price indices in the fare formula have also increased over the past year.

The wage index, which is a proxy for the wage growth of public transport workers including bus captains and rail staff, went up by 3 per cent.*The core consumer price index*also rose by 1.5 per cent - the highest increase in three years, said PTC.*

The new fare formula includes a new component called the*Network Capacity Factor (NCF) of 3 per cent, which*the council said "balances commuter demand and public transport capacity enhancements and reflects the effort to provide commuters with more convenient and less crowded rides over the last year".

It*added that more than two-thirds of the NCF was contributed by bus capacity improvements. Over the past five years, more than 1,000 new*buses were introduced through the*Bus Service Enhancement Programme*and*Bus Contracting Model.*

More than 200 new trains were also added "to augment the public transport capacity", it said, adding that the costs were borne by the Government.*

"The Government has also committed to spending S$5 billion to subsidise public bus services, S$4 billion to renew rail operating assets and an additional S$20 billion on new public transport civil infrastructure over the next five years," said PTC.*

The council said it will continue to keep public transport fares affordable to commuters, while also ensuring that the transport system remains financially sustainable.*

The decision on the fare adjustment quantum will be announced in the last quarter of 2018, it added.*

Source: CNA/ad(ra)

[foxwagon]

Pay you $100
Take back $99

[Dave57]

Originally Posted by foxwagon

Pay you $100
Take back $99

I feel

give u $100
take back $110

[loveikan]

Originally Posted by foxwagon

Pay you $100
Take back $99

got so good meh.....still got $1 left for that person

[foxwagon]

$1 for one to pay tax

[loveikan]

Originally Posted by foxwagon

$1 for one to pay tax

If tax...still Got to dig out extra from own pocket to pay

[hkh]

Paying back for what they spent few years back......with interest......