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04-09-2018, 02:19 AM | #1 |
Dragon
Join Date: Nov 2007
Posts: 1,446
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PTC : It's Payback Time :
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) |
04-09-2018, 08:41 AM | #2 |
Dragon
Join Date: Mar 2003
Posts: 1,181
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Pay you $100
Take back $99 |
05-09-2018, 07:05 PM | #3 |
Moderator
Join Date: Mar 2002
Posts: 3,624
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__________________
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05-09-2018, 11:46 PM | #4 |
Arofanatic
Join Date: Jun 2006
Posts: 384
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06-09-2018, 09:30 AM | #5 |
Dragon
Join Date: Mar 2003
Posts: 1,181
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$1 for one to pay tax
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06-09-2018, 01:03 PM | #6 |
Arofanatic
Join Date: Jun 2006
Posts: 384
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08-09-2018, 09:00 PM | #7 |
Arofanatic
Join Date: Jun 2003
Posts: 113
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Paying back for what they spent few years back......with interest......
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