Friday, January 17, 2014

Concession Is For Operators

Forget about the gee-whiz graphics. The important thing is that adult card fares for buses and trains will increase by 4 to 6 cents per journey starting 6 April. The other thing of importance to note is that the rip-off revenue from the fare increase is at least $53.5 million. Bus operations will cream off $48 million, while rail operations pocket an extra $5.5 million. On average, adult commuters end up paying $21 more a year, while senior citizens and students are poorer by $10 to $7. That math is not in the fancy diagram.

Lest we forget, those travel concession passes for senior citizens and students are pre-paid expenses.
Should members of either category happen to take less trips - because of sicknesses or other reasons that prevent them from boarding a daily train or bus - there's no rebate on the monthly ticket value. If the public transport operators are sincere about providing relief from cost-of-living pressures, they should offer percentage discounts off daily fares as in the schemes for the low-income and disability groups. You have to take a very large pinch of salt to imagine the new schemes will actually cost the government anything close to the $50 million figure they quoted. Besides, that $50m "largesse" is deducted from tax revenues, not the bottomless defence budget or ministerial salaries. Wait a minute, Gerard Ee and his Public Transport Council (PTC) mafia are not done,  they already decided on a 3.4 per cent increase for next year, based on a "rollover" of the original intent of  a 6.6 percent hike.

To justify the 3.2 per cent fare increase, which happens to be higher than previous adjustments, the gang of goons assume that the average national wage increase is likely to be close to 5 per cent for the full year because of generally better year-end bonuses. Did you get a wage increase close to 5 per cent or enjoyed "better year end bonuses"? If you did, raise your hands ("keechiu")! Otherwise, feel free to show them the middle finger.
They were supposed to go take a hike, not hike the fares

37 comments:

  1. the greedy SOBs.

    ReplyDelete
  2. Natcon, Feedback Unit, GPCs, Talking Point, CASE, all these are prime examples of the uselessness of giving feedback here in Singapore. Kpkb included.

    The one and only message that is loud and clear to the miws is simply to vote Opposition.

    ReplyDelete
    Replies
    1. VOTE OPPOSITION.
      It's the only feedback that counts.

      Delete
    2. I hear you, hope others also hear

      Delete
  3. The kee chiu general warned you didn't he? The war against the people has begun in earnest. Stick it into their hides. Repent. Don't expect those prostitutes in the MSM to provide the proper graphics to show the hard truth.

    ReplyDelete
  4. The same old tactic - make a general hike and then give "discount" to selected group that to hide the fact that even the group being helped ended up paying more. In the end, everyone is still out of pocket.

    ReplyDelete
  5. This is a government tax increase.
    Since it's being championed and masterminded by PAP Millionaire Lui.
    Obviously it does not affect the pockets of PAP Millionaires.
    They don't take the public transport do they?

    ReplyDelete
    Replies
    1. The next tax to hit us ordinary Singaporeans is going to be a biggie - Medishield Life. Yep, let's call it for what it is, TAX, because we cannot opt out.

      Delete
    2. Yes ! And there are still people who believe that we have the "lowest" tax rate in the world ! Even those who have cars are paying "tax" in the form of COE. There is no escape, rich or poor and everyone in between. What a Great Country to call Home ?

      Delete
  6. No GongXiFaCai but Tuck Yew this CNY

    ReplyDelete
    Replies
    1. ..to MIWs

      Delete
    2. ..to MillionairesInWhite

      Delete
  7. Weird...the logic does not compute...

    Feed the whining self and over pampered fat cats even more....at the expense of the majority in singapore...

    This is not substainable ... just to molly coddle the few who already has so much and still must feed them more...and it continue to be more expensive as they still will CRY OUT FOR MORE WELFARE from the people of singapore...

    NUTS lah PAP gov't.

    zzz

    ReplyDelete
  8. Can we have the balance sheet of Bus/Train operators YE 2013 to justify for such fare increase? We hardly hear ST harping about the excellent revenue result of these operators unlike those days during Saw PHiak Hwa's time to justify her millions of generous bonus while the trains were jam packed like sardine and she get to enjoy treatment like emperess with dozen of naked men carrying her.

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  9. Fucking idiot army boy. What is the use of using the national average wage when the fucking Gini coefficent is so wide. The top fucking 20% earns more than 50% of the national wage . This is the reason the government will never have a poverty line because the truth will be out that although the national average annual income is above 50k a year, almost 40% of the population will be below the poverty line.

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  10. Did PTC act beyond its mandate by pre-approving 2015 increase? How do they know what next years' inflation and SMRT/SBS productivity and performances would be? I know the scholars are good at "goal seek" and data-massaging to match today's PTC assumptions with next year's CPI numbers, still DO THEY HAVE TO BE SO ARROGANTLY blatant? Sneaky and sad.

    Anyway those hoping that GE 2016 would bring some reprieve from the greed of the corrupted, you have your answer: the game plan for GE 2016 to promise not to increase beyond all those pre-announced in 2014 and 2015. Next 2 years would see a deluge of "future increases", possibly as early as budget 2014 in a month's time on GST. The MSM is again spreading fat hopes on semblance of consultations for budget goodies, eg tax increase for the rich. I think there is absolutely ZERO chance, all increases would be for GST.

    ReplyDelete
    Replies
    1. GE before AEC2015

      Delete
  11. One would imagine that with increase in ridership - no thanks to the loose immigration policies - the economies of scale should bring about a reduction of the pro-rated fixed overheads. But no, the greedy buggers distribute the increased earnings to the shareholders, and greedier management team. At the cost of the hapless commuters and tax payers.

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  12. Which public listed transport company is ever guaranteed by their greedy Govt to forever make a profit ? What is essentially there to ensure these companies will ever strive never to make a loss ? So no matter what cock-up they screw up, they can never suffer any loss?

    What market competition they like to brag to us ? So is this the hallmark of our PAP Govt ..... only know how to TALK COCK ?

    ReplyDelete
  13. When they give concessions, discounts, subsidies, grants, rebates, deductions, vouchers, etc.., be very aware there is a catch somewhere. Like what Low Thia Khiang said: "If the PAP gives you a chicken leg, they ask for a whole chicken back."

    Gerard Ee: The fare hike is "helping them have the money to improve service standards." It is more akin to giving them money FOR low service standards. Without accountability, will there be any improvement? It's like you reprimanding an employee for his poor performance, and he turns around and tells you to raise his pay then he will improve - and you go ahead and give him a raise.

    ReplyDelete
    Replies
    1. One standard of meritocracy for Singaporeans
      - we must compete with talents from 3rd world countries while doing national service

      And another standard of meritocracy for PAP supported stable of companies and cronies.
      - We must pay Ministers millions in salary or else they won't be honest
      - how about sacking and jailing them if they are dishonest?

      Delete
    2. If the AG is not highly paid would he have come up with inside polling station is not within 100m of the polling station? So, are we bribing them too much to be ingenious in keeping on the side of the law while morally dishonest?

      Saycheese

      Delete
  14. Another PAP tax on the poor and the middle class.
    The rich are spared since they don't take public transport.

    Vote out PAP - the political party that protects the rich people ... foreigners included.

    ReplyDelete
  15. Appoint a committee, give it a grandiose title and shift the blame. Tuck yew Jack I'm OK.

    ReplyDelete
    Replies
    1. A commission of faceless men.

      Delete
    2. got women too...

      Delete
    3. Absolutely. No excuse for non inclusive language.

      Delete
  16. I think PAP Govt really screwed up with this type of false market competition. Looked as if if they never approve the fare increases, these public transport companies cannot even survive. Which means they should never be even listed in the first place if the Govt had to use taxpayers monies to buy the new buses for them? Just like putting money in the pockets of the shareholders. What if some greedy politicians start to manipulate the shares of these companies giving themselves a lifetime of guaranteed profits?

    ReplyDelete
    Replies
    1. Surprise how come no one asked Tuck Yew if his bonuses and % of stock options is contingent of his managed Portfolios, including for-profits-entities make money? Go ask him.

      Delete
    2. Tuck yew. People are too busy swearing.

      Delete
  17. with the buses and trains so overcrowded, they expect to tempt the season pass holders to travel as much and catch all the viruses?.

    ReplyDelete
  18. I'm tired of subsidizing this PAP government.
    I'm voting them out in GE 2016.
    LKY.
    This is what I think of the team you mentored.
    HuuuuuuK Pui !!

    ReplyDelete
  19. Wow..this has turned from a Tuck-Yew to Fook-You session.
    Clap Clap.

    Basically, what PTC/LTA/MOT are saying is, when Saw's crewed up her operational management, the buck stopped with Singaporeans. We paid $1.1 billion for all that bad and under provided services by SMRT.

    When the General took over, the same Trinity tells Singaporeans that dependent on how YOU perform (ie. you get your 5% wage increase) you will get your Fare Increase accordingly. Funny, is not about how THEY perform? In other words, we

    - punish & stick SMRT when they perform bad
    - reward & carrot SMRT for performing on-time & over delivery

    These kinds of CEO jobs who doesn't want? Either way, those bucks always end with us - the overtaxed-payers.

    Got to agree with Missy Stephanie that Singaporean (Leaders) are so out of creativity !!??!!

    https://www.youtube.com/watch?v=ydANJ5qLHG4

    ReplyDelete
    Replies
    1. A brilliantly creative scheme to justify fare increase. Who said they are out of creativity?

      Delete
    2. The only people who are fooled are the 60%.
      Foreigners are not fooled at all.
      Neither are 40% of us.

      Delete
  20. Singaporeans have to subsidize SMRT with a fare increase while PAP's Millionaire General CEO learns how to do his job.

    Just like Singaporean parents have to subsidize PAP's Education Millionaire Heng with private tuition (for our kids) while he learns how to be an Education Minister.

    ReplyDelete
    Replies
    1. Look at it as some sort of reverse bonus. Your gift to the creative team of commissioners.

      Delete