The Public Transport Council (PTC) will announce its decision on whether to raise fares this Thursday at a media conference.

In a statement, the PTC said it met on Monday to consider the fare applications submitted by public transport operators SMRT and SBS Transit, and has made a decision.

The 2013 fare review exercise began last November, and both operators submitted their applications last month.

The exercise combines the 2013 exercise with that for 2012, which was suspended earlier while a committee reviewed the fare formula. The committee submitted its report last year, and its recommendations, which include an energy component to reflect rising costs as well as more fare subsidies, were all accepted by the Government.