Public transport fares will increase by 5 cents
SINGAPORE — Public transport fares will rise for the second consecutive year, increasing by 2.9% from December 26.
The Public Transport Council (PTC) said in a press release Wednesday (October 12) that adult card fares would increase by 4 to 5 cents per trip, depending on the distance travelled.
Discount card fares will increase by 1 cent per ride to maintain lower fares for students, seniors, low-wage workers and people with disabilities.
There will be no price changes for Concession Monthly Passes and Adult Monthly Passes.
Singapore will make available 600,000 Public Transport Vouchers (PTV) worth $30 each from the Public Transport Fund. The PTVs will further ensure that tariffs remain affordable for lower middle to lower middle income households.
“Amid unprecedented cost increases and economic volatility, the Council recognizes the imperative to ensure that public transport continues to be reliable, convenient and affordable for Singaporeans,” said the PTC Chairperson. , Janet Ang.
“We will ensure that public transport remains affordable for commuters, but we seek to make sure commuters understand that some fare increase is still needed to cope with rising energy costs, and we ensure that we can continue to provide better wages and better training to around 20,000 public transport workers.
“I want to assure commuters that the Council will continue to protect the interests of commuters, especially those who are most vulnerable, and to support government measures to help low-income households.”
Public transport cost drivers have increased significantly
PTC said in its press release following its Fare Review Exercise (FRE) this year, that it found that public transport cost factors increased significantly from 2020 to 2021.
The global energy crisis in 2021 caused energy prices to rise by 117%. Combined with rising labor costs and inflation, this resulted in a maximum allowable rate adjustment quantum of 13.5%, based on the PTC’s rate adjustment formula.
Following the 2.9% increase in tariffs, the remaining 10.6% of this year’s tariff adjustment quantum will be carried over to future ERFs. This is made possible by the Singapore government providing an additional grant of approximately $200 million in 2023.
By September, public transport ridership had returned to around 80% of pre-pandemic levels.
TPC is reviewing the effectiveness of the current fare adjustment formula and mechanism, taking into account changes in the public transportation industry and commuting patterns. It will complete the review next year and apply the new formula and the new tariff adjustment mechanism from FRE 2023.
Do you have a tip for the story? E-mail: [email protected].