31 Dec '12, 8pm

Higher bus costs to be shared? #oursgconv

Higher bus costs to be shared? January 1, 2013 by admin Filed under: Current Affairs and Politics Jimmy Ho 31 December 2012 In the aftermath of the PRC bus drivers’ strike, Mr Lui Tuck Yew, our Transport Minister, correctly pointed out that a balance had to be struck between the government, operators and commuters in absorbing higher bus fare costs. But the concept should be introduced only at the subsistence level, not where the SMRT is making a $120 million net profit (SMRT Financial Statement: FY ending Mar 2012). Assuming there are 1,000 PRC bus drivers in Singapore, a pay increase of $25 each per month works out to an increased cost of $300,000 per year. The figure, being a normal operating cost, should be offset against the revenues of SMRT (and not shared by commuters) unless its bottom line cannot be met. Based on the same profit level as before, $119.9 million (to...

Full article: http://www.sgpolitics.net/?p=7997

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