SBS, SMRT formally apply for fare hike
Public transport operators have formally submitted applications for a fare 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 yesterday that it has received applications from both SBS Transit and SMRT Trains.
Since buses are now contracted by the Government, the Land Transport Authority (LTA) collects fare revenue. The operators bid for routes and the winner is paid the sum it has bid for.
The PTC said the LTA will "submit information on the bus industry financials... to help in the fare review process".
Asked when it will come to a decision on the latest annual fare revision, a PTC spokesman would only say it will make an announcement in the last quarter.
Both operators were coy when asked specifically if they had applied for the maximum 7 per cent allowable in this year's revision formula. - CHRISTOPHER TAN