SBS TRANSIT, SMRT SUBMIT APPLICATIONS FOR FARE ADJUSTMENTS

      
      
    SINGAPORE, July 12 (Bernama) -- Singapore's public transport operators, SBS Transit and SMRT, have submitted applications to the Public Transport Council seeking bus and rail fare adjustments.
    
    Both cited cost pressures despite increased efforts to lower costs and increase productivity.
    
    In a statement, SBS Transit said fuel and energy costs had been increasing.
    
    "At the same time, we have also been investing in new buses as part of our fleet renewal exercise, which began in 2006," it said.    
    
    Meanwhile, SMRT wanted a maximum fare adjustment of 2.8 per cent.
    
    "This is based on the annual fare adjustment formula that takes into account the consumer price index, wage index and productivity gains," it said.
    
    SMRT said the cost pressures were mainly from escalating energy and manpower costs.
    
    It said its energy cost increased 17.5 per cent to S$122.4 million for the financial year ended March.
    -- BERNAMA