In Jul 2012, Minister Liu and PAP MP, Josephine Teo, responded to a suggestion to nationalize the public transport system by saying it would lead to inefficiencies, higher cost and stagnation of service quality[Link]. Everyone can now see that the privatization of our transport system has led to the problems it was suppose to solve. The govt is appointing people from the SAF with zero experience in the private sector to run our public transport. As the problems with our public transport, SMRT in particular, mounts, the govt turns to the SAF to find talents to fix the problems...so what happened to belief that privatization leads to efficiency? The PAP govt looks like it is taking back control of the SMRT by appointing people from the public sector to top posts in the SMRT.
"Profit focus one factor for SMRT's problems"- CEO Kuek[Link]
CEO Kuek honestly admits that "profit focus" is one of the factors that led to problems in the SMRT. This is equivalent to saying that "privatization" has led to problems because the main difference between being privatized and nationalized is the profit motive. CEO Kuek has spent more than 2 decades in the SAF and never been driven by profits - in the SAF, the focus is on operational effectiveness and not cost cutting to get profits.
Now that they have appointed people to top positions who never had jobs that required them to generate profits to focus on delivering service quality to commuters ...does it not make sense for SMRT to remain privatized?