SINGAPORE -The Public Transport Council (PTC) has kicked off the 2016 fare review exercise, with train operators due to submit their fare adjustment applications for consideration by Oct 7.

As the public bus industry is currently undergoing a transition to the bus contracting model, bus operators need not apply to the PTC for approval of fares.

In a press release on Tuesday (Sept 13), the PTC said this year's exercise will be guided by the existing fare adjustment formula, which is valid till the end of next year.

Based on the current formula, the maximum allowable fare adjustment quantum is minus 5.7 per cent.

A decision on the fare adjustment quantum will be announced in the last quarter of 2016, the PTC said.

It added: "In considering the applications, the PTC will ensure that our fares strike a balance between ensuring that the public transport system is financially sustainable and keeping fares affordable for commuters."