The Singapore PTC Fare Adjustment Formula (Maximum cap) for 2008 to 2012 will be:
0.5(YoY change of CPI) + 0.5(YoY change of Average Monthly Earnings) - 1.5%
The 1.5% represents the productivity extraction component. I have no idea what does it mean though. The news did say that the new formula will see the public transport operators sharing the productivity gains with the commuters. Is this the one?
Therefore for year 2008, the maximum fare increment will be:
0.5(2.1) + 0.5(6.9) - 1.5 = 3%
Anyway, what I'm looking forward to though is the distance based fare calculation. Hope they will announce good news soon. Finally some action from the government. At least they are listening...
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