SBS & SMRT Apply for Fare Revision Despite Lui’s Recommended Cut in Fare Prices

Despite a 1.9 percent prescribed cut in fare prices this year, the SBS and SMRT have gone ahead and applied for a fare revision, more commonly known as a fare hike.

Every fare revision which the public transport operators have applied for over the past 8 years has resulted in an increase in fares.

This time, both the SBS and SMRT say they made the fare revision application as a “procedural process”.

They are reportedly appealing for small fare increases, due to higher manpower and maintenance costs.

The Public Transport Committee will make its decision on the fare increases in the coming weeks.

Former Transport Minister Lui Tuck Yew announced in August that fares would be cut by “up to 1.9 per cent”.

This was recommended following a sharp and sustained drop in oil prices.

It remains to be seen if new Transport Minister, Khaw Boon Wan, will follow up on his predecessor’s recommendations.

Just 5 months ago, transport fares were raised by 2 to 5 cents.

This, despite SMRT boasting net profits of over S$20 million, while SBS posted quarterly profits higher by 22.8 percent compared to 2014.

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