SMRT, SBS Transit submit applications to raise fares

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The two public transport operators here submitted applications yesterday to the Public Transport Council (PTC) to raise fares for bus and train services, ahead of the midnight deadline.

The PTC is expected to announce its decision on the fare review exercise by March.

The fare review exercise started on Nov 19, after the Fare Review Mechanism Committee (FRMC) released its report earlier in the same month.

The PTC said it would pay particular attention to fare affordability for lower-income groups and, where necessary, the fare adjustment cap would be spread over more than a year to prevent a sudden and large fare hike.

The council would also take into account the FRMC’s proposals on concessions.

Despite having made profits in the third quarter of this year, both SMRT and SBS Transit have cited challenging business conditions — including rising fuel costs — which have led to a decline in their profits in spite of higher revenues.