Minister of Transport, Khaw Boon Wan, calls for cost efficiency and continuous improvement for Singapore’s Rail Service during his speech on 14 October 2019 at the Joint Forum on Infrastructure Maintenance.
In the past 4 years, the rail service in Singapore has improved significantly. However, Mr Khaw acknowledged that the operators have not invested enough in maintenances in earlier years, while being cautious about overspending in the future.
“A reliable rail service requires substantial investments, both in capital expenditure for timely renewal of ageing assets, and in operating expenditure to fund operations and maintenance (O&M) adequately.” Said Mr Khaw.
He also raised a concern about the risk of regulatory capture, which occurs when government agencies or regulators protect and advance the agenda of the industry it was formed to regulate.
“A regulator working closely with the industry to advance consumer welfare is of course good. But a regulator getting too comfortable with the industry, neglecting consumer welfare, will be crossing a red-line. The recent Boeing 737 Max incidents from the aviation sector are useful reminders.”
Mr Khaw added, “We are now much better off than four years ago, but we need to expand on it, to keep up with technological progress and as our network grows.” – Construction + Online
Sources: Ministry of Transport, Singapore
