The Public Transport Council (PTC) started its annual fare review exercise on Wednesday 30th August, and train operators may submit their fare applications to PTC for consideration by 29th September.
PTC will be guided by the existing fare adjustment formula, which is valid until the end of this year's exercise. Based on the formula, the fare adjustment quantum, which are guidelines for the change of fares, is -3.9 percent. With a carry-over quantum of -1.5 percent from last year's exercise, the combined fare adjustment quantum to be considered for this year's exercise is -5.4 percent.
In last year's exercise, PTC granted an overall 4.2 percent fare reduction, which translates into reductions of 1 to 27 cents for card fares. Last year's maximum allowable fare adjustment quantum was -5.7 percent.
PTC will announce its decision on the fare adjustment quantum in the last quarter of this year. "PTC will strike a balance between keeping our public transport fares affordable and ensuring the long-term viability of the public transport system," said the council in a statement on Wednesday.
