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Regular fare increases needed for new bus contracting model to be sustainable: Lui
Published on Jul 7, 2014 2:42 PM
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Transport Minister Lui Tuck Yew has said that regular fare increases will be needed to ensure the new bus contracting model that the government is adopting remains financially sustainable. -- ST PHOTO: KEVIN LIM
By Royston Sim
Regular fare increases will be needed to ensure the new bus contracting model that the Government is adopting remains financially sustainable, said Transport Minister Lui Tuck Yew.
Answering questions on the new model in Parliament on Monday, Mr Lui said that under the current model, operating costs had well exceeded fare increases from the middle of the last decade.
From 2005 to 2012, the annual fare increase was 0.3 per cent on average, while wage increases and fuel costs were much higher, he said.
"There will be a need for us to make sure we have regular fare increases of the right quantum," he said. This will be determined by the new fare formula and the Public Transport Council, he said.
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