11 Jul '11, 12pm

RAISING TRANSPORT FARES?? #omgtuckyouallseriously

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 ...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

Tweets

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