SMRT

[CityFarmer]

Fare review report is out - details should be out next week.

Let's see what it brings.


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SINGAPORE: The Ministry of Transport (MOT) has received the Fare Review Mechanism Committee (FRMC) report.

In a statement from MOT, Transport Minister Lui Tuck Yew thanked the FRMC Chairman Richard Magnus and committee members for the thoughtful and comprehensive report to review the adjustment mechanism and the concession schemes.

MOT will study the FRMC report in detail and will give a response next week.

The FRMC was appointed by the government last year to review the framework for public transport fare adjustments.

The committee was scheduled to present its recommendations early this year but the submission of its findings was delayed. The FRMC had said it needed time to gather quantitative feedback.

Yes, it is interesting to see the detail.

My speculation is the formula will not result on a immediate fare hike, but on a long term incremental model. In a cost-plus cum asset light model, the revenue burden will be on regulator, there is no need for immediate fare increment, IMO