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27-01-2015, 09:20 PM
An honorable member of the Coffee Shop Has Just Posted the Following:
MAINSTREAM MEDIA PUBLISHES 4 NEWS ARTICLES JUST TO JUSTIFY TRANSPORT FARE HIKE
Post date:
26 Jan 2015 - 8:32pm
http://therealsingapore.com/sites/default/files/styles/large/public/field/image/Screen%20Shot%202015-01-26%20at%208.31.53%20pm.png?itok=6gmuVNxs (http://therealsingapore.com/sites/default/files/field/image/Screen%20Shot%202015-01-26%20at%208.31.53%20pm.png)
Transport fares increase 2.8%
According to the Straits Times news report “Public transport fares to increase by 2 to 5 cents from April 5″ (http://www.straitstimes.com/news/singapore/transport/story/public-transport-fares-increase-2-5-cents-april-5-20150121) (Jan 21) – “SINGAPORE – Bus and train fares will go up by 2.8 per cent from April 5, the Public Transport Council (PTC) said on Wednesday.
So generous to contribute more to Public Transport Fund
The two public transport operators – SBS Transit and SMRT – will make an additional $48.5m in revenue with the fare increase, but they will have to contribute $5.5 million and $8 million respectively to the Public Transport Fund. The Government will draw down $7.5 million from the fund to provide 250,000 vouchers of $30 each to low-income households.
For SBS Transit, this $5.5 million represents about 25 per cent of the additional fare revenue, while for SMRT, the $8 million they are setting aside accounts for about 30 per cent.”
No mention of profits?
- Don’t you find it very strange that the justification for the fare increase is silent on the profits of the transport operators?
Who cares about how much is the increase in revenue and how much is the increase in their contribution to the Public Transport Fund?
What really matter most is how much is the increase in profits?
Perhaps everybody involved in the fare increase decision never studied accounting?
Is there any country in the world that has public transport operators’ profits increasing almost perpetually historically?
So many frequent fare increases
Since the formation of the PTC – there have been fare increases in about two out of every three years.
Are there any countries in the world that increase fares so frequently?
There must be something wrong with the fare adjustment formula because it almost guarantees perpetual fare increases.
Oil dropped 60%, but still increases fares?
Since oil prices have dropped by almost 60 per cent, and it is a major component of the operators’ costs – wouldn’t it result in a huge increase in profits?
So, shouldn’t this be taken into account in determining whether to and how much to increase fares?
Unfair comparison of fares
The fares comparison table with other cities are inappropriate because most residents in these cities (which also happen to be high-income cities, except Taipei) use monthly or annual travel passes, instead of the “per trip” comparison.
Thus, on the basis of the cost of travel passes relative to wages – we have one of the most expensive transport fares in the world.
What is even stranger is that the comparison table shows only trips above 10 km.
Also, why are we still using the existing fares in the comparison? Shouldn’t we be comparing the increased fares announced instead?
http://i.imgur.com/iMcZZPO.jpg
– PHOTO: PUBLIC TRANSPORT COUNCIL
Highest fare increase % is?
Finally, I think there may be something wrong with the headlines that the fare increase is only 2.8 per cent, because this appears to be the overall fare increase for all commuters.
If you take the increase of five cents over the fare of $1.33 to $1.58 in the table – it is an increase of 3.2 and 3.8 per cent.
Why not also just tell us what is the highest percentage increase for commuters?
Win battles lose war
TRS Contributor
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?199069-154th-PUBLISHES-4-NEWS-ARTICLES-JUST-TO-JUSTIFY-TRANSPORT-FARE-HIKE&goto=newpost).
MAINSTREAM MEDIA PUBLISHES 4 NEWS ARTICLES JUST TO JUSTIFY TRANSPORT FARE HIKE
Post date:
26 Jan 2015 - 8:32pm
http://therealsingapore.com/sites/default/files/styles/large/public/field/image/Screen%20Shot%202015-01-26%20at%208.31.53%20pm.png?itok=6gmuVNxs (http://therealsingapore.com/sites/default/files/field/image/Screen%20Shot%202015-01-26%20at%208.31.53%20pm.png)
Transport fares increase 2.8%
According to the Straits Times news report “Public transport fares to increase by 2 to 5 cents from April 5″ (http://www.straitstimes.com/news/singapore/transport/story/public-transport-fares-increase-2-5-cents-april-5-20150121) (Jan 21) – “SINGAPORE – Bus and train fares will go up by 2.8 per cent from April 5, the Public Transport Council (PTC) said on Wednesday.
So generous to contribute more to Public Transport Fund
The two public transport operators – SBS Transit and SMRT – will make an additional $48.5m in revenue with the fare increase, but they will have to contribute $5.5 million and $8 million respectively to the Public Transport Fund. The Government will draw down $7.5 million from the fund to provide 250,000 vouchers of $30 each to low-income households.
For SBS Transit, this $5.5 million represents about 25 per cent of the additional fare revenue, while for SMRT, the $8 million they are setting aside accounts for about 30 per cent.”
No mention of profits?
- Don’t you find it very strange that the justification for the fare increase is silent on the profits of the transport operators?
Who cares about how much is the increase in revenue and how much is the increase in their contribution to the Public Transport Fund?
What really matter most is how much is the increase in profits?
Perhaps everybody involved in the fare increase decision never studied accounting?
Is there any country in the world that has public transport operators’ profits increasing almost perpetually historically?
So many frequent fare increases
Since the formation of the PTC – there have been fare increases in about two out of every three years.
Are there any countries in the world that increase fares so frequently?
There must be something wrong with the fare adjustment formula because it almost guarantees perpetual fare increases.
Oil dropped 60%, but still increases fares?
Since oil prices have dropped by almost 60 per cent, and it is a major component of the operators’ costs – wouldn’t it result in a huge increase in profits?
So, shouldn’t this be taken into account in determining whether to and how much to increase fares?
Unfair comparison of fares
The fares comparison table with other cities are inappropriate because most residents in these cities (which also happen to be high-income cities, except Taipei) use monthly or annual travel passes, instead of the “per trip” comparison.
Thus, on the basis of the cost of travel passes relative to wages – we have one of the most expensive transport fares in the world.
What is even stranger is that the comparison table shows only trips above 10 km.
Also, why are we still using the existing fares in the comparison? Shouldn’t we be comparing the increased fares announced instead?
http://i.imgur.com/iMcZZPO.jpg
– PHOTO: PUBLIC TRANSPORT COUNCIL
Highest fare increase % is?
Finally, I think there may be something wrong with the headlines that the fare increase is only 2.8 per cent, because this appears to be the overall fare increase for all commuters.
If you take the increase of five cents over the fare of $1.33 to $1.58 in the table – it is an increase of 3.2 and 3.8 per cent.
Why not also just tell us what is the highest percentage increase for commuters?
Win battles lose war
TRS Contributor
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?199069-154th-PUBLISHES-4-NEWS-ARTICLES-JUST-TO-JUSTIFY-TRANSPORT-FARE-HIKE&goto=newpost).