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SINGAPORE: Public transport fares will be reduced by 1.9 per cent from Dec 27 this year, coinciding with the opening of the new Downtown Line 2.

This is the maximum allowable fare reduction based on the fare adjustment formula, which takes into account wages, core inflation and energy costs.

At a press conference on Friday (Oct 23), the Public Transport Council (PTC) said that while wages and other operating expenditure went up last year, energy prices was down substantively.

It is also the first time that fares are being reduced since 2010.

With the revision, adult card fares will be lowered by 1 to 4 cents, depending on travel distance. Student and senior citizen concessionary card fares will go down by 1 to 2 cents.

However, the prices of all monthly concession passes, monthly travel passes, cash fares and single trip ticket fares, will remain unchanged.

COMMUTERS WHO HAD HIGHER FARE INCREASE PREVIOUSLY TO HAVE LARGER REDUCTION NOW

The PTC said an estimated 2.2 million commuters are expected to benefit from the fare revision. "The PTC is monitoring changes on the ground very closely," said chairman of the PTC, Richard Magnus. "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."

The annual fare revision usually takes place in April, but has been brought forward to coincide with the opening of the new Downtown Line 2 at the end of the year.

The council said this is so changes need not be made to the fare system twice during a short duration, and to minimise confusion for commuters.

Fares had recently been increased by 2.8 per cent in April, with adults using fare cards paying about two to five cents more.

The final figure had taken into account a rolled over 3.4 per cent increase from the previous exercise, even though the fare revision quantum was at negative 0.6 per cent.

For this latest exercise, the PTC said one key consideration was that commuters who experienced a higher fare increase in the last exercise, should now see a larger reduction to their fares. Another key consideration was to benefit as many commuters as possible.

FARE REDUCTION WILL REDUCE REVENUE BY S$36.1M A YEAR

Separately, the Transport Ministry announced it will reduce concessionary card fares for lower wage workers by 1 to 4 cents, depending on the distance travelled.

Concessionary card fares for people with disabilities will also be reduced, by 1 to 2 cents, also depending on the travel distance.

The PTC said while fares have been cut for commuters, it is equally concerned with the viability of the public transport system.

The 1.9 per cent fare reduction will translate to a combined revenue reduction of about S$36.1 million a year for public transport operators SBS Transit and SMRT.

However, the council said that expansion of the network and raising of service quality to boost ridership, will help increase the revenue of operators.

- CNA/wl
 
SINGAPORE: Public transport fares will be reduced by 1.9 per cent from Dec 27 this year, coinciding with the opening of the new Downtown Line 2.

This is the maximum allowable fare reduction based on the fare adjustment formula, which takes into account wages, core inflation and energy costs.

At a press conference on Friday (Oct 23), the Public Transport Council (PTC) said that while wages and other operating expenditure went up last year, energy prices was down substantively.

It is also the first time that fares are being reduced since 2010.

With the revision, adult card fares will be lowered by 1 to 4 cents, depending on travel distance. Student and senior citizen concessionary card fares will go down by 1 to 2 cents.

However, the prices of all monthly concession passes, monthly travel passes, cash fares and single trip ticket fares, will remain unchanged.

COMMUTERS WHO HAD HIGHER FARE INCREASE PREVIOUSLY TO HAVE LARGER REDUCTION NOW

The PTC said an estimated 2.2 million commuters are expected to benefit from the fare revision. "The PTC is monitoring changes on the ground very closely," said chairman of the PTC, Richard Magnus. "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."

The annual fare revision usually takes place in April, but has been brought forward to coincide with the opening of the new Downtown Line 2 at the end of the year.

The council said this is so changes need not be made to the fare system twice during a short duration, and to minimise confusion for commuters.

Fares had recently been increased by 2.8 per cent in April, with adults using fare cards paying about two to five cents more.

The final figure had taken into account a rolled over 3.4 per cent increase from the previous exercise, even though the fare revision quantum was at negative 0.6 per cent.

For this latest exercise, the PTC said one key consideration was that commuters who experienced a higher fare increase in the last exercise, should now see a larger reduction to their fares. Another key consideration was to benefit as many commuters as possible.

FARE REDUCTION WILL REDUCE REVENUE BY S$36.1M A YEAR

Separately, the Transport Ministry announced it will reduce concessionary card fares for lower wage workers by 1 to 4 cents, depending on the distance travelled.

Concessionary card fares for people with disabilities will also be reduced, by 1 to 2 cents, also depending on the travel distance.

The PTC said while fares have been cut for commuters, it is equally concerned with the viability of the public transport system.

The 1.9 per cent fare reduction will translate to a combined revenue reduction of about S$36.1 million a year for public transport operators SBS Transit and SMRT.

However, the council said that expansion of the network and raising of service quality to boost ridership, will help increase the revenue of operators.

- CNA/wl


these scumbags put their cronies into public listed companies, then took 1.1 billion of public funds to buy buses so that these cronies can do fuck-all and collect BIG FAT $$$$$ (obscene siphoning of country's funds)




uniquely singapore!!!!!
 
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