New bus and train fare adjustments will be announced by March next year.
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Below is the full statement from the Public Transport Council on the Fare Review Exercise:
The Public Transport Council (PTC) has started a fare review exercise.
This exercise combines the exercise for the year 2013 with that for the year 2012, which was suspended pending the work of the Fare Review Mechanism Committee (FRMC).
The Public Transport Operators (PTOs) may submit fare review applications to the PTC for consideration by 19 December 2013. The Council’s decision on applications will be announced in the first quarter of 2014.
The PTC will continue to work towards maintaining a good balance of keeping fares affordable while ensuring that the public transport system remains financially sustainable. In discharging its responsibilities, the PTC will pay particular attention to fare affordability for lower income groups.
Where necessary, the fare adjustment cap will be spread over more than one year to prevent a sudden and large fare hike.
The enhancement of existing concessions proposed by the FRMC will be considered by the PTC to ensure that public transport fares remain affordable.
In assessing the affordability of any fare increase, the PTC will also take into account new concessions to be funded by the Government.