My views on the fare hike, extracted from my blog:
Hooray, transport fares may be increased by 1 to 3 cents come
October. In case you don't know, this is in today's news. Already I
can hear people whining and cursing at the transport companies for
raising fares yet again.
Let's get some figures first. SBS Transit recorded a profit of $55
million (that's S$55,000,000), while SMRT reported a profit of
$27.5 million for the first quarter of the year. With records of
these figures, you can already hear some yuppies crying foul.
"Wah nin na beh la, earn so much money liao still want to ki the
fares, really make me damn du lan ar!" complains ah beng, who
proceeds to light up his second cigarette*.
*costs approximately S$0.50 per stick now.
As I always say, the price of everything is increasing, but the
salary is going down. When I say that, I'm referring to the lower
starting pay now than compared to years ago. While generally most
consumers are against the raising of fares, I will take a neutral
stand and present my thoughts on this episode.
While it's true that the transport companies recorded profits, it
is also known that the price of oil is ever-increasing due to the
tension in the Middle-East. What has oil got to do with the MRT
which runs on electricity? Where does the electricity come from?
Burning your crap?
The cost of fuel increased by 40% for the companies by $10 to $30
million. Money is also spent on upgrades, and purchasing newer
vehicles. We probably don't see all the figures, but whenever they
upgrade or do a purchase, it involves millions.
Now let's see how the fare hike will affect us. Considering an
increase of 2 cents/trip, an average Singaporean who takes 2 MRT
rides and 2 bus rides a day will end up paying 8 cents more. That
makes up to 56 cents/week, $2.24/month, or $26.88/year. How much
does $27 mean to you?
I see people around me buying new mobile phones which can easily
cost a 4-digit sum ever so frequently. If you can afford that, or
even a HDTV that costs close to 5-figures, I seriously don't see
how badly $27/year will affect you. You can whine all you want, but
even if the fares are upped by a dollar, there isn't much you can
do about it if you rely on public transport.
Now here's a relief for students - Both transport operators said
that the proposed fare hikes would not affect children and student
fares on concession passes or using ez-link cards.
