Public transport fares could be cut by as much as 5.7%
By Toh Ee Ming
Published: 9:59 PM, September 13, 2016
Updated: 10:00 PM, September 13, 2016
SINGAPORE — Public transport fares could be slashed by as much as 5.7 per cent next year, the Public Transport Council (PTC) signalled on Tuesday (Sept 13) as it commenced its fare review exercise.
The reduction could be the highest in recent times — lower than the 4.6 per cent decrease in the midst of the 2009 global financial crisis. It also comes on the back of a 1.9 per cent cut in fares this year.
The fare formula — which is valid until the end of next year — used by the PTC is pegged to changes in the Core Consumer Price Index, the Wage Index and the Energy Index over the preceding year. “Based on this, the maximum allowable fare adjustment quantum is -5.7 per cent,” PTC said.
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 may submit fare adjustment applications by Oct 7.
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