LTA incurs $1b deficit in bus contracts

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Fares fell far below the cost of government contracts awarded to transport firms such as SBS Transit and SMRT.. Read more at straitstimes.com.

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SINGAPORE - Public bus operations have incurred"losses" amounting to $1 billion, as fares fall far below the cost of government contracts awarded to transport firms such as SBS Transit and SMRT.

In its latest annual report, the Land Transport Authority , which awards these contracts, posted a deficit of $1.013 billion for the 2018/19 financial year.Enjoy unlimited access to ST's best work Subscribe Now

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Why shouldn't the LTA incur deficits? It is not meant to be a profit-generating body. Is it?

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