Acting Minister for Transport Jeffrey Siow announced on Tuesday that the government would temporarily co-fund cost increases for certain essential bus services, as part of S$1 billion worth of support measures for businesses and households.
On Thursday, the government said it will provide three months of support – equivalent to 13 per cent of fare revenues – to transport operators serving school children, people with disabilities, some seniors and patients.
Fares may still have to rise if fuel prices remain elevated beyond the support period, it said.
“ZERO PROFIT”
For operators like wheelchair-accessible transport firm Vimo Services, the damage from rising fuel costs has already been severe.
Fuel expenses for its 18 vehicles have jumped 140 per cent – S$18,000 in the second half of March, compared with S$7,500 before that.
