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11/26/2014
SMRT applying for fare review
This must be good news. With the restructuring and changing of accounting methods, with the high capital assets being transferred out to the govt, with the huge profits made in the last quarter and more coming, with increasing load from more commuters, with the govt pumping many billions to buy assets for the SMRT, and with the oil prices falling like a rock, every commuters must be keeping their fingers crossed that this time the SMRT will be asking the PTC for a fare reduction. When times were difficult they had asked the commuters to be understanding when they hiked fares. Now when everything is so favourable, I am sure they will reciprocate the generosity of the public by going for a fare cut. It cannot be the other way!
Listening to Lui Tuck Yew in his blog, I quote the Today paper, ‘ the authorities must continue to make public transport affordable for all Singaporeans. “I hope that the PTC will study if we can insulate vulnerable groups such as senior citizens from a fare increase or at least mitigate the impact on them.”’ You can see the goodness and the heart. Let’s hope there will be a fare deduction this time when the review is concluded.
What do you think? I don’t think they got the gumption and audacity to ask for a fare hike this time. Let’s wait and see what they will be asking.
PS. The commuters are still experience regular breakdowns, which means the service is still far from satisfactory.
Kopi Level - Yellow
SMRT/SBS are not charity organizations. They have shareholders to be accountable to.
ReplyDeleteCorporate governance cannot be based on populism. To do so would simply be giving in to the threats and blackmails of the masses.
If fares are raised, it is simply the appropriate thing to do.
Even bus/mrt drivers need a raise every now and then, you know... :)
Public transport should not be privatised and gain profits from the general travelling public and citizens.
DeleteThis is one essential service if running a country and government.
Wages increases should come from the profits as accumulated and provided for as business cost.
why distribute profits to share holders??
Then every year fares review for further gains to shareholders on the citizens account??
In time to come step up fares would be
$10.00 for the first stop if increases every year??
Not everything must in business of dollars and cents
ReplyDeleteFare Reduction? Fare Reduction?
Totally agreed with U that with
huge profits and falling oil
prices, this time around SMRT is
likely to SHOCK Singaporeans by
asking the PTC to consider for a
fare reduction.
Let the sun rises from the WEST
for once!
Cheers.
You think the masses will resort to threats and blackmails like Sneaky Raymond?
ReplyDeleteLike the Aljunied TC before WP took over, surplusses every year in the millions, transferred to Sinking Fund and kept raising S&CC fees. Standard formula of Pay and Pay.
ReplyDeleteWant more Pay and Pay?
Anthony Fernando, the police looking for you.
ReplyDeleteLui Tuck Yew.
ReplyDeleteTell us honestly.
When we first designed and built our MRT system.
Was it designed for a population of 6.9 million or 3.5 million?
Bus and train drivers salary increment sub sub sui la. How much is NTUC Comfort making from their fuel alone now that the price of oil is nearly half of its high.
ReplyDeleteTaxi drivers are paying for their rental, cleaning and fuel, what increment do they get?
Yes, train fares need to go up significantly so that SMRT can pay its CEO more millions. Obviously, the current more than a million salary is not enough to support true talent. That is why trains break down frequently and vandals are able to break in easily. SMRT needs more funds to pay its senior managers more millions and spend yet more millions on the latest smart technology to protect its premises.
ReplyDeletePublic stuff should never have been privatised. This kind of logic will make the poor poorer and the rich richer.
ReplyDeleteIn Penang, the ruling opposition chief minister even provide free Rapid bus services for tourists and locals.
DeleteThose lower income citizens had free rides besides the tourists of not able to afford cars and bikes.
Yet, they had surplus budget of billion ringitt every year.
Most of their leasehold houses and apartments are been converted to free hold leases by topping up some minimum amount.
The DAP unlike the PAP are not do mercenary. Yet they are the original offshoot from the parent root of PAY and PAY