In order to enrich their corrupted cronies at SBS Transit and SMRT, the ruling party dictatorship announced that they will be raising the highest fare hike in history: 7%.
Adult fare will rise by S$0.09 a trip, and on average they are expected to pay S$8.10 more a month.
Poor people who cannot afford a transit link card will see cash transaction paying the largest increase of 20 cents more per trip.
Singaporean students and elderly are not let off either, they will see 4 cents increase per trip.
The latest fund raising will see the government making fare revenue up to S$800 million a year.
SMRT, headed by army general Neo Kian Hong, last year reported a record S$155 million losses under his charge. Singaporeans unfortunately will have to pay for his incompetence with higher fares.
Endorsing the increase is PAP millionaire Transport Minister Khaw Boon Wan and the government’s Public Transport Council Richard Magnus. The government accepted SBS Transit and SMRT’s request to raise fares by 7% without any objection.
Singapore’s cost of living is expected to worsen further in this fare hike after numerous tax increases. The PAP dictatorship government has also announced that they are raising GST taxes by 28.6%, from the nominal figure of 7% to 9%.
Temasek Holdings is currently sitting on S$51 billion of debt, while GIC is making undisclosed losses in the stock market. Numerous taxes have been raised to cover the losses, that could prove incriminating for Lee Hsien Loong if he loses power this general election.