Hong Kong News

Nonpartisan, Noncommercial, unconstrained.
Sunday, Jan 29, 2023

HK launches three-month consultation on MTR's fare adjustment mechanism

HK launches three-month consultation on MTR's fare adjustment mechanism

Hong Kong on Tuesday launched a three-month public consultation to review the fare adjustment mechanism of MTR Co Ltd (MTRCL).
Since the rail merger in December 2007, MTRCL has put in place the mechanism which adopts an objective, transparent and direct-drive formulaic approach, thereby replacing the fare autonomy enjoyed previously, a statement released Tuesday read.

The government is now conducting the latest review on the mechanism with MTRCL, intending to complete the assessment in the first quarter of 2023 and put it into effect.

The mechanism is subject to review every five years. The outcome of the first review was announced in 2013, and the second review was brought forward a year and completed in 2017 as requested by the government.

"In this review, the government is looking for a feasible and pragmatic approach for the mechanism to maintain the financial prudence of the MTRCL as a listed company, in order for it to take forward railway projects that address the development needs of society, as well as to cope with its increasing expenditure on maintaining the railway system, while enabling the MTRCL to better respond to public concerns on fare adjustments," a government spokesman said.

From today until December 19 (Monday), the public can send their views on the review of the mechanism in the following ways.

- By post: addressed to the Bus and Railway Branch of the Transport Department, 16/F, South Tower, West Kowloon Government Offices, 11 Hoi Ting Road, Yau Ma Tei, Kowloon; or

- By fax: 2802 2679; or

- By email: fam-review2022@td.gov.hk
Newsletter

Related Articles

Hong Kong News
Close
0:00
0:00
China is opening up for foreign investors.
Tesla reported record profits and record revenues for 2022
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
Federal Reserve Probes Goldman’s Consumer Business
China's first population drop in six decades
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
China's foreign ministry branch in Hong Kong urges British gov't to stop the biased and double standards Hong Kong report
China relaxes 'red lines' on property sector borrowing in policy pivot
Tesla slashes prices globally by as much as 20 percent
Japan prosecutors indict man for ex-PM Shinzo Abe murder
Vietnam removes two deputy PMs amid anti-corruption campaign
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
After Failing To Pay Office Rent, Twitter May Sell User Names
FIFA president questioned by prosecutors
Britain's Sunak breaks silence and admits using private healthcare
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
China’s recovery could add 1% to Australia’s GDP: JPMorgan 
Saudi Arabia set to overtake India as fastest-growing major economy this year 
China vows to strengthen financial support for enterprises: official
International medical experts speak out against COVID-19 restrictions on China
2 Billion People To Travel In China's "Great Migration" Over Next 40 Days
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
Flight constraints expected to weigh on China travel rebound
Billionaire Jack Ma relinquishes control of Ant Group
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
Teslas now over 40% cheaper in China than US
TikTok CEO Plans to Meet European Union Regulators
UK chaos: Hong Kong emigrants duped by false prospectus
China seeks course correction in US ties but will fight ‘all forms of hegemony’, top diplomat Wang Yi says
China will boost spending in 2023
African traders welcome end of China’s Covid travel curbs
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Japan reportedly to give families 1 million yen per child to move out of Tokyo
Will Canada ever become a real democracy?
Hong Kong property brokerages slash payrolls in choppy market
U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX
Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP
Coinbase to Pay $100 Million in Settlement With New York Regulator
Preparations begin for Spring Festival travel rush
Domestic COVID-19 drug effective in trial
HK to see a full recovery, John Lee says in New Year message
Bargain hunters flock to last day of Hong Kong brands and products expo
Hong Kong aims for January 8 reopening of border with mainland China
Chinese Revenge Travelers Will Steer Clear of a Hostile US
FTX assets worth $3.5bn held by Bahamas securities regulator
2023 Will Be the Year of the Electric SUV
A Republican congressman-elect is under investigation in New York after he admitted he lied about his education and work experience.
Brazilian football legend Pele, arguably the greatest player ever, has died at the age of 82.
Hong Kong to scrap almost all its Covid rules
×