SINGAPORE - The changes made to the formula used to determine train and bus fares here are unlikely to play a big part in determining the margin of future fare changes, analysts said. Read more at straitstimes.com.
here are unlikely to play a big part in determining the margin of future fare changes, analysts said.
While the productivity component of the formula remains fixed at 0.1 per cent for the next five years, it has been changed to a productivity contribution, instead of the existing productivity extraction where half of the transport operators’ productivity gains was shared with passengers. He said switching to a fixed capacity adjustment factor suggests that the PTC is future-proofing the fare formula against more dramatic changes in ridership, which has not fully recovered since the Covid-19 pandemic hit.
The three components of inflation, wages and energy costs are not as predictable or controllable given the larger environment that Singapore operates in, he added. “Hopefully that will rein in some of the expected fare increase,” he said, adding that the PTC has had a track record of spreading fare increases over a longer period of time.Associate Professor Walter Theseira from the Singapore University of Social Sciences said current indicators suggest that the amount of increase from the upcoming fare review would be “an unpleasant figure” to pass on to passengers.
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