LOKE: MRT Ridership Increasing Despite Losses Due To Upkeep

Transport Minister Anthony Loke reported that the financial losses suffered by Mass Rapid Transit (MRT) Corp Sdn Bhd can be attributed to the high capital expenditure required to construct the MRT1 (Kajang Line) and MRT2 (Putrajaya Line) and the necessity to maintain low ticket prices.

He noted that, despite the losses, MRT Corp's principal goal is to foster long-term socioeconomic growth for all. He pointed out that such large-scale public initiatives need huge capital outlays and are not intended to be quickly recovered.

Loke also pointed out that the subsidised My50 unlimited transport card, which was introduced in 2021 to increase ridership in the Klang Valley, contributed to the losses, costing RM200 million each year to maintain.

Loke's comments were in reaction to the Auditor-General's 2024 Report, which indicated that MRT Corp has incurred losses of RM57.624 billion since its inception in 2011.

He stated that MRT1 ridership has dramatically increased, with daily averages hitting 139,000 in 2022, 204,000 in 2023, and 239,000 as of May this year. Similarly, MRT2's daily ridership increased from an average of 23,000 when it first opened in 2022 to 93,000 in 2023 and 140,000 as of May this year.

Furthermore, public transport fares have not been raised in the recent decade, and there are no plans to do so in the near future.

To further boost public transit use, Loke said that the government has approved the purchase of 310 new buses to address last-mile transportation concerns. These buses are planned to be delivered by December of this year.