Moreover, RHB notes that PTC Chairman Richard Magnus hinted at the possibility of a fare increase where he notes that “service improvements come at a cost” and there “needs to be equitable cost sharing among commuters, taxpayers and public transport operators”.
SINGAPORE (April 6): RHB is not ruling out the possibility of a fare hike next year, given the Public Transport Council has started its review of the formula through which bus and train fares are adjusted yearly.
The research house believes the burden of subsiding public transport has shifted to the taxpayer, given recent development of government taking ownership of bus and rail assets as well as stepping up efforts to ramp up services.
