SINGAPORE : The two public transport operators, SBS
Transit and SMRT, have submitted applications to the Public
Transport Council (PTC) seeking bus and rail fare
adjustments.
Both cited cost pressures despite increased efforts
to lower costs and increase productivity.
SMRT is asking for the maximum fare adjustment of
2.8 per cent.
This is based on the annual fare adjustment formula that takes into
account the consumer price index (CPI), wage index and productivity
gains.
It said the cost pressures were mainly from escalating energy and
manpower costs.
SMRT said its energy cost increased 17.5 per cent to S$122.4
million for the financial year ended March.
SBS Transit said it has been investing in new buses as part of a
fleet renewal exercise, which began in 2006.
In the last year alone, orders were placed for another 600 buses
costing S$268 million, which are scheduled for delivery in 2011 and
2012.
SBS Transit said more details of the application, which is subject
to the approval of the PTC, will be announced at a later
date.
- CNA/ms
By the way, I note that they are asking for "maximum fare
adjustment of 2.8%".
So 2.8% is the max they can increase per year? Per review?
Anybody can enlighten me? 