SINGAPORE: A review of the formula and mechanism for adjusting public transport fares is under way, with the process likely to be completed by the first half of next year.
“The Public Transport Council (PTC) has commenced the review of the public transport fare adjustment formula and mechanism. Such reviews are typically done once every five years,” the council said in a news release on Monday (Aug 15).
“It targets to complete the review by the first half of 2023 and apply the outcome of the review from the 2023 fare review exercise.”
During the review, PTC will examine the effectiveness of the current fare adjustment formula and mechanism, taking into account changes in the public transport industry and commuting patterns.
The council will also propose means to “better maintain the balance to keep public transport fares affordable while ensuring the financial sustainability of the public transport system”, it said.
The council said that it will consult and engage key stakeholders, including commuters, public transport operators, the labour movement and transport experts, in the course of the review.
The current fare adjustment formula and mechanism will apply to the 2022 fare review exercise, PTC added.