What is meant by "carry over 10.6% to future fare review exercises"? How will this be done?
PTC takes many factors into account before making a decision on the fare adjustment. These include any carried over quantum from the previous year, the fare formula output for the year, the economic situation at that point, the financial sustainability of the public transport system, and affordability of public transport fares for commuters. The Council seeks to strike a delicate balance between fare affordability for public transport commuters and financial sustainability of the public transport system.
This year, the fare formula generated a maximum allowable fare adjustment quantum of 13.5%. To avoid a large fare increase, PTC decided to implement 2.9% of the fare adjustment quantum and defer the remaining quantum of 10.6% to subsequent fare review exercises.
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