The public transport operators for SBS Transit and SMRT Trains have officially submitted applications for a fare increase. What that means to us, the consumer is that if this is approved, there will be an increase which could see bus and train rides costing up to 7 per cent more by year-end.
The Public Transport Council (PTC), a fare watchdog appointed by the Transport Ministry, said on Monday (Sept 23) that it had received applications from both SBS Transit and SMRT Trains.
As per the The Straits Times, SMRT Trains chief executive Lee Ling Wee said:
“We support a 7 per cent fare increase for high performance and sustainability of the rail service.
“In financial year 2019, SMRT Trains’ maintenance-related expenditure accounted for 71 per cent of rail fare revenue, up from 62 per cent in 2018. Because of intensified and comprehensive maintenance efforts, total operating cost has exceeded fare revenue and is not sustainable.”
SBS Transit spokesman Tammy Tan also said: “The cost of rail operations has been increasing due mainly to higher repairs and maintenance costs. As a result, SBS Transit has continued to incur rail losses despite the growth in ridership. It is hoped that an increase in fares will help mitigate some of these cost increases.”
If a 7 percent increase is granted, bus and train fares are expected to go up by around 10 cents per ride. That’s kinda a lot especially you know how many times we used it per day!