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Fares have to rise, operators must be more cost-efficient as taxpayers’ bill for public transport ‘cannot keep ballooning’: Ong Ye Kung

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Fares are not enough to cover operating costs, Transport Minister Ong Ye Kung said 
Steps must be taken to manage the system’s long-term financial sustainability, he added
Bus and rail operators would have to find new ways to be cost-efficient
Public transport fares will also have to be adjusted from time to time, he added
 


Read more at https://www.todayonline.com/singapore/fares-have-rise-operators-must-be-more-cost-efficient-taxpayers-bill-public-transport

 

Pay And Pay ... :sick:

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2 minutes ago, Blueray said:

Fares have to rise, operators must be more cost-efficient as taxpayers’ bill for public transport ‘cannot keep ballooning’: Ong Ye Kung


Read more at https://www.todayonline.com/singapore/fares-have-rise-operators-must-be-more-cost-efficient-taxpayers-bill-public-transport

 

Pay And Pay ... :sick:

Give u new thread so u first page, first poke all also

first

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zipping

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https://www.todayonline.com/singapore/fares-have-rise-operators-must-be-more-cost-efficient-taxpayers-bill-public-transport?cid=telegram_tg-single_social-free_26012019_today

Fares have to rise, operators must be more cost-efficient as taxpayers’ bill for public transport ‘cannot keep ballooning’: Ong Ye Kung
Published Mar 05, 2021
Updated Mar 05, 2021
less than 1 hour ago
“The Government needs to continue to subsidise the operations of MRT and buses. We can’t run away from that. But the bill to taxpayers cannot keep ballooning. If it does, we would leave our future generations a growing financial burden,” said Transport Minister Ong Ye Kung.
TODAY file photo
“The Government needs to continue to subsidise the operations of MRT and buses. We can’t run away from that. But the bill to taxpayers cannot keep ballooning. If it does, we would leave our future generations a growing financial burden,” said Transport Minister Ong Ye Kung.

    Fares are not enough to cover operating costs, Transport Minister Ong Ye Kung said
    Steps must be taken to manage the system’s long-term financial sustainability, he added
    Bus and rail operators would have to find new ways to be cost-efficient
    Public transport fares will also have to be adjusted from time to time, he added

 

SINGAPORE — Even as the Government continues subsidising rail and bus operations, Transport Minister Ong Ye Kung said the bill to taxpayers “cannot keep ballooning”.

Steps must be taken to manage the long-term financial sustainability of the public transport system, he added in a speech during a parliamentary debate on his ministry’s budget for the upcoming financial year.

This means that bus and rail operators would have to find new ways to be cost-efficient while keeping services reliable, and not try to penny-pinch on maintenance cost, thinking that this will translate to savings, Mr Ong said.

This would also mean that public transport fares will have to be adjusted from time to time, he added.

Fare adjustments are needed as costs do go up, including the wages of public transport workers who look forward to earning more, he said.
Read also
Public transport satisfaction dips in 2020, MRT safety scores largest improvement: Survey

The Government has been spending about S$1 billion a year to subsidise rail operations and another S$1 billion a year to subsidise bus operations, he pointed out.

“Train fares so far are not enough to cover these operating costs,” he said, adding that the situation is the same for buses.

“The Government needs to continue to subsidise the operations of MRT and buses. We can’t run away from that. But the bill to taxpayers cannot keep ballooning. If it does, we would leave our future generations a growing financial burden.”

Other than adjusting fares and nudging operators, the Government will also try its best to cut excess capacity in the system, especially bus services that run parallel to new train lines as they come up, he added.

If not, tens of millions of dollars in operating subsidies per service each year would go towards running these buses, he said.

REVIEWING NEW RAIL FINANCING FRAMEWORK
Read also
What’s in store for Singapore on the land transport front in 2020 and beyond?

On the Government’s part, Mr Ong said it would “square the circle” by reviewing its financing framework for the Downtown Line, which is operated by SBS Transit.

The Government took over from SBS Transit the ownership and replacement of operating assets, trains and signalling systems for the line, and has been charging the operator a fixed fee for using these assets.

“It is like renting on the part of the operator,” he said.

Under this financing framework, SBS Transit still bears a significant commercial risk, given that it suffers losses if ridership is unhealthy and operating costs far exceeds fare revenue, he noted.

He added: “This is not ideal, because as a public utility, public transport should be a more stable business.

He noted that the North-South, East-West, Circle and North East MRT lines are under “Version Two” of the financing framework, which reduces commercial volatility by having the Government cream off operators’ high profits and cushion big losses year to year.
Read also
No increase in public transport fares this year given the effects of Covid-19: PTC

Meanwhile, the Thomson-East Coast Line is on a third version of the framework, which Mr Ong said is akin to a contracting model: The Government collects all fare revenue, bears all revenue risk and grants the operator a fee to run the line for the initial period when ridership is still not stable.

“So recognising that the (framework) has evolved over the years, we will review the arrangement for the Downtown Line, given that it is still on Version One, and this will be done with a view to ensure that the operator will run the line reliably, with high productivity and that the line is sustainable,” he said.

EV ‘AT MOST A SECOND-BEST SOLUTION’

Mr Ong reiterated his ministry’s goal for 75 per cent of peak-hour trips to be made using public transport by 2030, up from 64 per cent currently, adding that more than S$60 billion would be pumped in over this decade to expand and renew the rail network.

This means that new stations or lines will open almost every year, so that by the early 2030s, Singapore’s MRT network density will match that of London and New York City.

From 230km today, there will be 360km rail lines by this target date, he added.

    From now till 2025: The rest of the Thomson-East Coast Line will open

    By 2026: The two ends of the Circle Line – Harbourfront and Marina Bay – will be connected, closing the loop

    By 2029: Construction of the Jurong Region Line will complete

    In the 2030s: The Cross Island Line will open progressively

Mr Ong stressed that even as his ministry is taking steps to promote the adoption of electric vehicles (EVs) among drivers, they are “at most a second-best solution” in creating a sustainable land transport system.

He announced on Thursday that Singapore will stop all new diesel car and taxi registrations from 2025, by which time eight towns will have EV charging points at all Housing and Development Board car parks.

And, by 2030, all new car and taxi registrations must be of cleaner-energy models — including electric, hybrid and hydrogen fuel cell cars — to meet the country’s goal to phase out internal combustion engine vehicles by 2040.

 

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Watwheels

Watwheels

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23 minutes ago, kobayashiGT said:

petrol price increase

now bus fare increase.

haix. need to walk to work liao lor.

Dont bluff lah. You got no transpork allowance?

Ask your boss to let you wfh. LoL...

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inlinesix

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Hypersonic
1 hour ago, kobayashiGT said:

petrol price increase

now bus fare increase.

haix. need to walk to work liao lor.

Bicycle better

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Stratovarius

Stratovarius

Turbocharged
35 minutes ago, Staff69 said:

Page 1 

 

Give this

2-8.thumb.jpg.54ed4f9ef19b25d414c2da9c57f28681.jpg

 

 

Take back

 

 

SpendWithPennies-Juicy-Roast-Chicken-25.thumb.jpg.1cbcb063ea48f8f22562ce5a3f55be18.jpg

 

Last year take money v happy right? Now time to give back. Gdp and reserves low liao. Whatever environmental or cosmic reasons they give are all bs.

 

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Blueray

Blueray

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14 minutes ago, bezza2460 said:

Don't be surprise if tomorrow must pay for oxygen

if there was a way to charge for air and tax fart, they would do it. :XD:

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Brass

Brass

6th Gear
(edited)
6 hours ago, Strat said:

what's new, every time after election prices sure increase one....

I want erection and not election.

Wait no, erect the opposition.

Dont be surprised that human road tax would be $100 per year and people would have to pay $1 per fart in 2050, or even earlier.

 

20210306_004620.jpg

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Ct3833

Ct3833

Supersonic
(edited)

This is not a problem to those who could afford 1k to 2k per month of car expense, but it can be a lot money to those who earn less and are depending on public transportation  for their daily commute. 

Edited by Ct3833
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