Meaning after many years, the transport companies would expect whatever their proposed amount to be cut by PTC so they will jack up the amount.
Looking at the crowd in bus interchange and MRTs, it is obvious that the companies are already maximising their profit by making sure the vehicle are fully packed for each trip. If they are still not making money, it only means that they are ineffective and there is problem in their administration and management. Even if the fare increase is approved, do not expect a better service as it would reduce their earnings.