PTC's Fare Review Mechanism wins International Association of Public Transport finalist award

The Public Transport Council's Fare Review Mechanism has won the Smart Financing and Business Model finalist award at the International Association of Public Transport’s World Congress & Exhibition.


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The Public Transport Council's (PTC) Fare Review Mechanism has won the UITP (International Association of Public Transport) Smart Financing and Business Model finalist award at the 61st UITP World Congress & Exhibition held in Milan earlier this month.

The win, in the PTC’s first year as a member of the Association, recognises the Fare Review Mechanism for its practical mechanism and formula to keep public transport fares in Singapore affordable while maintaining the viability of operators. The mechanism's fare formula caps the quantum of fare adjustment, ensuring that commercial operators do not simply pass on their cost increases to commuters.

PTC Chairman, Mr Richard Magnus, said: "The award is a validation that our fare review mechanism is recognised internationally as a fair, robust and balanced model to keep our public transport fares low and affordable, while ensuring sustainability of the public transport system in Singapore. This will motivate us to continue to discharge our remit in a fair and objective manner."

The UITP is an international network for public transport authorities and operators, policy decision-makers and other related entities. The awards recognise and acknowledge international projects that contribute to the growth of public transport mode share and service improvements to the industry.

Source: Public Transport Council


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