Perhaps it is time the public transport sector also starts to use dynamic pricing strategies, where fares rise during peak hours, just like fares for taxis.

There will always be a demand for public transport.

Even if each commuter is charged a few cents extra during peak hours, people will still use public transport because the surge in taxi fares at the same time would be much higher.

The two other alternatives - walking or using a personal mobility device - are also not practical for long distances.

Such a pricing system can make a big difference in revenue.

It can help Singapore cover the cost of the $573 million upgrade and renewal of the power supply and track circuit systems on the ageing North-South and East-West lines, as well as the purchase of new buses under the Bus Service Enhancement Programme.

Overall, the simple economics of cost-benefit analysis and price inelasticity of a service could help Singapore make higher revenues without losing anything.

Riddhiman Sarawgi