PTC Commences Review of Public Transport Fare Adjustment Formula and Mechanism
1. The Public Transport Council (PTC) has commenced the review of the public transport fare adjustment formula and mechanism. Such reviews are typically done once every five years. It targets to complete the review by the first half of 2023 and apply the outcome of the review from the 2023 Fare Review Exercise.
2. The terms of reference for the review are as follows:
a. Review the effectiveness of the current fare adjustment formula and mechanism, in consideration of the changes in the public transport industry and commuting patterns; and
b. Propose how we can better maintain the balance to keep public transport fares affordable while ensuring the financial sustainability of the public transport system.
3. The Council will consult and engage key stakeholders, such as commuters, public transport operators, the labour movement and transport experts.
4. The current fare adjustment formula and mechanism will remain valid for the 2022 Fare Review Exercise.
