While inflation has moderated, cost of living continues to be of concern for Singaporeans. Why did the PTC decide to increase fares again in this year’s exercise?
The economic climate has affected both the commuters and the cost of providing public transport. While the economic outlook has improved from last year, with inflation expected to moderate, we understand that Singaporeans remain concerned about cost of living. That is why PTC decided not to grant the full maximum allowable fare adjustment of 22.6%. PTC’s decision of a 7% fare increase is carefully calibrated to ensure that fares remain affordable to Singaporeans, and that the public transport system remains financially sustainable.
Fares need to increase given the rising costs of operations, and to continue to ensure fair wages and support quality training for about 22,000 Public Transport workers.
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