MRT makes money, despite $9b transport revenue?

mrt-2_j-_ruiz_station

Since we don’t need to make money from MRT – why do we keep doing it since it started?

I refer to the article “Khaw Boon Wan: Government don’t need SMRT to make money” (theonlinecitizen, Nov 8).

It states that “Mr Khaw stated that he disagrees with Mr Low comment, saying that SMRT is not there to make money for the government.

“There are easier ways to make money. You don’t have to use SMRT to make money,” he stated.”

MOT revenue – $9.1b?

In this connection, the estimated operating revenue of the Ministry of Transport is a whopping $9.1 billion for FY2016, which is the highest amongst all the ministries with the exception of the Ministry of Finance which collects income and other taxes.

So, we may easily be able to afford to not make so much profits from SMRT, and also give the full -5.4 per cent reduction in fares derived from the fare review formula, instead of deferring 3.2 per cent to next year’s fare review exercise.

Leong Sze Hian

About the Author

Leong
Leong Sze Hian has served as president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), invited to speak more than 200 times in over 30 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of Indonesia and Brunei. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.