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SINGAPORE: Transport analysts favour the new fare formula that was announced by the Public Transport Council (PTC) on Thursday because it takes into consideration the inflation rate and changes to wages.
The new fare formula will see public transport operators share their productivity gains with commuters – the maximum annual fare adjustment will be capped at 3 per cent, instead of the higher 4.2 per cent under the old formula.
While analysts approve of the move to encourage seamless transfers for commuters who make multiple transfer journeys, they also recommend the implementation of integrated information systems for hassle-free transfers.
Professor Chin Hoong Chor from the Civil Engineering Department at the National University of Singapore (NUS), said: "If we can have a system either on the handphone or PDA where we could get updates along the routes, then it is possible for the whole communication system to pick up... One could choose whether to transfer (buses) or not."
Analysts also highlighted the need for concessions for the needy and economically vulnerable groups such as students and the elderly.
Cedric Foo, chairman of the Government Parliamentary Committee for Transport, said: "The likes of transport vouchers should be continued and if NTUC, the government or the public transport operators can contribute to that, it would be a great help."
Major transport operators, SBS Transit and SMRT Corporation, said they would work within the PTC's guidelines.
SMRT Corporation added that while it continues to face an "inflationary and higher operating cost environment" due to rising diesel and electricity costs, it will continue to improve operational and cost efficiencies, leading to higher productivity.
Both operators are expected to submit their applications to review their fares in August.
- CNA/so
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