Public transport fare adjustment now on review
PTC will complete the assessment by 1Q18.
The Public Transport Council has commenced the review of the public transport fare adjustment formula and mechanism.
The council targets to complete the necessary review by the first quarter of 2018, and apply the reviewed formula and mechanism starting from the 2018 annual Fare Review Exercise.
In the review, the PTC will examine the effectiveness of the current fare adjustment formula and mechanism, and propose improvements in consideration of the changes to the public transport industry.
The review will be focussing on maintaining a good balance in keeping public transport fares affordable whilst ensuring the financial viability of the public transport system.
During the period of review, the council will be engaging with the commuters, as well as transport operators and experts.
Meanwhile, the current fare adjustment formula and mechanism will remain valid for the 2017 Fare Review Exercise.