Public transport fares in Singapore up next month
Sunday, 14 September 2008
SINGAPORE, Sept. 12 (Xinhua): Singapore's fare-setting Public Transport Council today announced that it has given the green light for an overall public transport fare adjustment.
The Council announced in a statement that it has allowed operators to raise bus and train fares by an overall net 0.7 per cent from Oct. 1. It stressed that this significantly lower than the 3 per cent cap computed from a formula, which is pegged to three marco- economic factors-the consumer price index, the average monthly earnings gauge and a measure of productivity gains.
The Council also decided that the two public transport operators here - mainboard listed SBS Transit and SMRT Corp. - will bear the bulk of the new fare transfer rebate for commuters. Given rebates that commuters can enjoy for transfer trips, the Council said the new approved fare hike will actually translate to a change in fare of between a 7-cent (about 5 U.S. cent) reduction, and a 4-cent increase per journey.
The new transfer rebate will raise to 40 cents, up 15 cents from the current rate. The public transport operators will bear 10 cents from this 15-cent increase.
The Council announced in a statement that it has allowed operators to raise bus and train fares by an overall net 0.7 per cent from Oct. 1. It stressed that this significantly lower than the 3 per cent cap computed from a formula, which is pegged to three marco- economic factors-the consumer price index, the average monthly earnings gauge and a measure of productivity gains.
The Council also decided that the two public transport operators here - mainboard listed SBS Transit and SMRT Corp. - will bear the bulk of the new fare transfer rebate for commuters. Given rebates that commuters can enjoy for transfer trips, the Council said the new approved fare hike will actually translate to a change in fare of between a 7-cent (about 5 U.S. cent) reduction, and a 4-cent increase per journey.
The new transfer rebate will raise to 40 cents, up 15 cents from the current rate. The public transport operators will bear 10 cents from this 15-cent increase.