Update on Fuel Equalisation Fund

Debated in Parliament on 20 Jan 2014.

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Seng Han Thong asked for an update on the Fuel Equalisation Fund, including its size, utilisation since 1992, and how it fits into the fare review mechanism.
Lui Tuck Yew stated that the Fund was established in 1992 to help public transport operators manage fuel price fluctuations, with about $25 million drawn down and a current balance of around $60 million.
The Fare Review Mechanism Committee recommended adding an Energy Index component to the fare formula, which the Government accepted, and the Public Transport Council will review the need for the Fund in due course.

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Seng Han Thong

Mr Seng Han Thong asked the Minister for Transport (a) if he can provide an update on the Fuel Equalisation Fund; (b) what is the size of the Fund built up since 1992; (c) what has been the utilisation of the Fund since 1992; and (d) how will this Fund fit into the fare review mechanism recommendations.

Summary written by AI (learn more)

Seng Han Thong asked for an update on the Fuel Equalisation Fund, including its size, utilisation since 1992, and how it fits into the fare review mechanism.
Lui Tuck Yew stated that the Fund was established in 1992 to help public transport operators manage fuel price fluctuations, with about $25 million drawn down and a current balance of around $60 million.
The Fare Review Mechanism Committee recommended adding an Energy Index component to the fare formula, which the Government accepted, and the Public Transport Council will review the need for the Fund in due course.

Questions identified by AI (learn more)

Update on Fuel Equalisation Fund | PAPERCUTS

Update on Fuel Equalisation Fund

Debated in Parliament on 20 Jan 2014.

Summary written by AI (learn more)

Seng Han Thong asked for an update on the Fuel Equalisation Fund, including its size, utilisation since 1992, and how it fits into the fare review mechanism.
Lui Tuck Yew stated that the Fund was established in 1992 to help public transport operators manage fuel price fluctuations, with about $25 million drawn down and a current balance of around $60 million.
The Fare Review Mechanism Committee recommended adding an Energy Index component to the fare formula, which the Government accepted, and the Public Transport Council will review the need for the Fund in due course.

Questions identified by AI (learn more)

Full Transcript

Seng Han Thong

Summary written by AI (learn more)

Seng Han Thong asked for an update on the Fuel Equalisation Fund, including its size, utilisation since 1992, and how it fits into the fare review mechanism.
Lui Tuck Yew stated that the Fund was established in 1992 to help public transport operators manage fuel price fluctuations, with about $25 million drawn down and a current balance of around $60 million.
The Fare Review Mechanism Committee recommended adding an Energy Index component to the fare formula, which the Government accepted, and the Public Transport Council will review the need for the Fund in due course.

Questions identified by AI (learn more)

Update on Fuel Equalisation Fund

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Seng Han Thong

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Update on Fuel Equalisation Fund

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Seng Han Thong

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Lui Tuck Yew