Public Transport Council kicks off 2017 fare review exercise

Public Transport Council kicks off 2017 fare review exercise

File photo of commuters at the Raffles Place MRT station in Singapore. (Photo: AFP/Roslan Rahman)
SINGAPORE: Train operators may submit their fare applications to the Public Transport Council by Sep 29 for this year's fare review exercise, PTC announced on Wednesday (Aug 30).For this year's fare exercise, PTC said it will be guided by the existing fare adjustment formula, which takes into account the consumer price index, energy costs and wages, and is valid until the end of 2017.Based on the fare adjustment formula, the maximum allowable fare adjustment quantum is -3.9 per cent. With the carry-over quantum of -1.5 per cent from the 2016 fare review exercise, the fare adjustment quantum to be considered for this year’s exercise is -5.4 per cent, PTC said.The council said it will strike a balance between "keeping our public transport fares affordable and ensuring the long-term viability of the public transport system".The decision on the fare adjustment quantum will be announced in the last quarter of 2017, it added.
Source: CNA/mz