Public transport fares to fall by 1.9 per cent from 27 Dec

FireIce SG

Singapore commuters will pay less for bus and train transport from 27 December after the Public Transport Council (PTC) concluded its 2015 Fare Review Exercise.

In a statement on Friday (23 October), the PTC said adult card fares would be lowered by one to four cents, while students and senior citizen concessionary fares would be reduced by one to two cents.

This is the maximum allowable fare reduction of 1.9%, the PTC said. Prices of all monthly concession passes, monthly travel passes, cash fares, and single trip fares remain unchanged.

The PTC said its assessment “showed that while wages and other operating expenditure had gone up in 2014, energy prices had fallen substantively. This allows fares to be adjusted downward in this Fare Review Exercise”.

It added the fare reduction was timed to coincide with the opening of stage 2 of the Downtown Line.

Public transport fares previously went up by 2.8% in April, which amounted to a two to five cents increase for adult commuters.

Richard Magnus, chairman of the PTC, said, “This year’s decision to reduce fares for commuters is in line with the negative fare quantum yielded by the fare adjustment formula due to lower energy prices. We have decided to grant the full quantum of reduction to benefit commuters and keep fares affordable.”

source

jurongresident SG

It's good that they lower the fares as the costs of operations is lower due to fall in oil prices, instead of profiting from it. :)

FireIce SG

it's what they are supposed to do

carbikebus SG

Reduce fares temporary only,Next year you will see hikes..

jurongresident SG

Actually, if we only collect enough revenue to recover the costs, we may be able to lower the fares further. :)

When the Government Contracting Model for bus services is implemented from next year, this will happen, since the government would only give the bus company money that is just enough to run the bus services. :)

Singapore bus and train fares are low because it is heavily subsidized by tax. If I am not wrong, it is progressive tax, where the rich pay more while the poor pay less. If GCM can reduce costs, less tax would be required to subsidize fares and the government can collect less tax. As a result, everyone saves money! :)

SMB145B SG

Reduce fares temporary only,Next year you will see hikes..

reduce by few cents

hikes in tens of cents.

TIB868X SG

Actually, if we only collect enough revenue to recover the costs, we may be able to lower the fares further. :)

Singapore bus and train fares are low because it is heavily subsidized by tax. If I am not wrong, it is progressive tax, where the rich pay more while the poor pay less. If GCM can reduce costs, less tax would be required to subsidize fares and the government can collect less tax. As a result, everyone saves money! :)

If people want lower public transport fares under GCM, they must be prepared to pay more tax. No increasing subsidies without higher tax.

Flying grenade SG

Hope buses could be faster