Transport fares are likely to go up in coming years: Lui Tuck Yew

[streetsmart73]

diew gau hui

[globalcookie]

Perhaps they think we are stupid. Perhaps we are a communist country but democratic in disguise, by having elections. Perhaps perhaps....

From my tiny pea brain....

Cost of Buses
Just like taxis and just like equipments in our respective trades. All these are costed into selling price. When it is time to change the tools of trade, it will still come from consumers, as it's costed in.

But Singapore's system is indeed unique. Cost of buses are paid using TAX PAYERS monies. Profits goes to shareholders, and who are the largest shareholders?

Operating Cost
Yes, it's more than just fuel cost. Manpower, facilities, assets, all these are part of the operating cost. If in the past, where fares were at a maximum of $0.80 and that fare was held constant for YEARSSSSS, why is there a need to increase fare almost as a yearly fashion?

Has cost went up so drastically yearly? Oh sure, they will say salary increase by X% yearly, thus fare increase X% too. But other operating cost, being costed into the fares too, does it go up so much too?

Profit & Loss
Yearly, the P&L is promising. How much is enough? Every year increase profit, and yet want to keep increasing fares?

If in Taiwan, public transport companies only adjusted fares 3 times in 10 years (as telecast on CNA early this year), and the adjustments were shouldered by their gov, and if there are about 10 transport companies, why is it that there are almost an annual fare adjustment here in Singapore?

Something is not right! There is no efficiency in operations? There is no competency in management? There is no financial prudence? There is no trimming of cost to keep the business lean? WHAT?

--------------------
Don't need to be very knowledagable or highly educated to understand these. Don't need to be financially literate either. Just some basic logics.

Yet I seems to feel we are hood·winked!

[Beerman]

Cost of Buses
Just like taxis and just like equipments in our respective trades. All these are costed into selling price. When it is time to change the tools of trade, it will still come from consumers, as it's costed in.

But Singapore's system is indeed unique. Cost of buses are paid using TAX PAYERS monies. Profits goes to shareholders, and who are the largest shareholders?


Totally agreed with u!

[stargazer]

I think now every year they want bus fare to increase

[mel2sg]

How come Lui never include the Indice for Margin?, so the question I would like to post to him is 2.8% increase is equivalent to how much profit for SMRT?

[JinJin]

The only positive thing I can say about our transport system is that the fare is charge by distance and cap to a certain fee for a trip.

Don't think Hong Kong has it.

Eventhough I appreciate that, to keep hearing transport cost keep going up after the election is damn dulan.

[dave6238]

Not surprised to hear fare going to increase again lah... pay n pay mah.... very predictable 1...
.

[hkh]

Originally Posted by mel2sg

How come Lui never include the Indice for Margin?, so the question I would like to post to him is 2.8% increase is equivalent to how much profit for SMRT?

Does he check if our pay increment can hit 2.8% or more next year ?? Else he is just making our lives more difficult while the Public Transport Operators keep making record profits.......

[hkh]

Originally Posted by stargazer

I think now every year they want bus fare to increase

Else where the money to buy new buses come from ?? Definitely not from SBS or SMRT........

[globalcookie]

Originally Posted by hkh

Does he check if our pay increment can hit 2.8% or more next year ?? Else he is just making our lives more difficult while the Public Transport Operators keep making record profits.......

You don't rem they like to flip flop their words? Rem when the justification for increment based on increased fuel cost? And when fuel cost came down, what did they say?

Even if pay increment is below 2.8%, they may tell u, add up this year and next year increment, fare increase for both years also below that.