2/22/2012

Govt funding of public transport

550 buses plus operating costs and salaries of bus drivers for 10 years will be provided by the govt amounting to $1.1b. It is a significant sum to a public listed company, though originally a govt owned business started with tax payer’s money. It was also reported that nearly $70b have so far been doled out to the train operators in infrastructure cost and rolling stocks as well.

And the operators cried shareholder’s interest to see good profits. No doubt the majority shareholder is the govt or govt linked companies, many of the other shareholders are also feeding on the gravy train built with taxpayer’s money and demanding more and more profits.

It can’t be helped for the commuters to be pissed off when the bulk of the capital was taxpayer’s or their money in the first place, and now they have to keep feeding the organizations to feed the shareholders and big bonuses for the top management.

It is high time the govt reclaims the public transport companies and run them as they should be, state owned companies, for the country, people and supporting the rest of the economy. Price it as low as possible, (please assholes, I am not saying that it must be run at a loss) a national service to the people and country. The whole economy also needs an efficient and lowly priced transport system. High transportation cost will spiral into other operating costs and salaries of workers. It will affect the social activities and life of the people as well.

The mission of public transportation has to be relooked at and reformulated to serve the people and country, not just the shareholders.

18 comments:

Anonymous said...

If "shareholders are feeding on the gravy train", why don't you jump in and partake the gravy as well? What's stopping you ? If you do not want to jump in ,why complain about others?

Anonymous said...

how to jump in to the feeding trough ? u got to be a pig in the first place, are you ?

Anonymous said...

tell this pig to stuff his prick in his mouth.

Anonymous said...

Govt is losing alot of credibility.

Orginal framework doesn't work and now try to build onto a new transport framework.

We now have super complex hybrid model unseen in the world, all to help grease senior level bonus who are all related

Anonymous said...

Grease , Lard , Pork Fat , well oiled $$churning scheme. Only pigs need apply.

Anonymous said...

>>(please assholes, I am not saying that it must be run at a loss)

Haha..knowing that the Papaya will ALWAYS argue the extreme opposite as usual

Anonymous said...

Even if it is run at a marginal loss, what is wrong about it?

If this means more trains and buses on the roads, why not?

After all, isnt a public transport system the lifeline of the economy? what the government loses in financially supporting the publict tranport system, it will get back manyfolds in other areas such as ...i dunno...happier and a more relaxed workorce --> more productive workforce---> happier citizenry ----> happier voters (??).

The positive multiplier effect is tremendous and yet am i the only one who can see this?????

Anonymous said...

The mission was to fill up the trains like in Tokyo.

Anonymous said...

what has thw WP HAS TO SAY NOW.

Anonymous said...

The Alternative Parties will have less to push in National Policies when Bloggers are doing better jobs than them(Oppositions).

Anonymous said...

The WP may say, Why privatise when it is still own by the govt?

Anonymous said...

Dear redbean
This is by far your best article since I've started reading your blog a few months ago.

Is this meritocracy PAP style?

First you privatize the bus company.
Why?
Because you the millionaire Ministers say that you are unable to run it more efficiently than the private sector.

And now, you want us, the tax payers, to subsidize the PROFITABLE bus companies to the tune of $1.1 billion!!!
When the bus companies are still not willing to give poly students a lower bus fare?

So is it true?
PAP style meritocracy is;
The poor taxpayers subsidize the profitable private bus companies.
But the profitable bus companies do not subsidize the poly students?

Is it true?
Poor gets subsidy means it's welfare mentality.
Rich gets subsidy means it's meritocracy, PAP style.

Unbelievable!
Uniquely Singapore!

It seems Singapore is really a great place to live if you are rich.

Matilah_Singapura said...

Wah. This is a great wealth-fair program.

How better to use tax revenue than to redistribute it to "private" (nudge nudge wink wink) companies competing in the freeze market.

PAP "meritocracy" is akin to PAP's version of "freeze market competition", where the PAP enters its "private" enterprises to do "business" (WTF?)

Anonymous said...

Bus and MRT crowded, Complain.

Govt inject funds to buy more buses and trains, Complain.

SMRT make money Complain. (but you do not want to buy smrt shares)

Medical cost expensive, Complain. (but you do not want to buy medical insurance. KBW did heart op for $8, Complain. But do not want to bother to find out how he did it)

Just a bunch of Weaklings.

Anonymous said...

$8 CABG , pray tell , it;s the first in the world. you know , you dun want to share, ask readers to find out for themselves?

Anonymous said...

Not many uncles , aunties can afford to buy SMRT share lah . PREASE horr ... have a heart.

Anonymous said...

But there's one thing you are indeed correct about , that is , sinkies are weaklings. This is undeniable. Even ah gong label is own loyal people as daft ... what more can these weaklings say ? there are 60.1 % weaklings in singapore , fullstop.

Anonymous said...

$8 CABG. It was published in the mainstream newspapers how he did it. But if you had only been reading TR or online citizen, then they will not share this nugget with you because that goes against their self interest.