MTR fare mechanism under review
The government on Monday launched a review of the much-criticised fare adjustment mechanism for the MTR Corporation.
A spokesman said on Monday it had noted public views that MTR’s profit level, service performance, public affordability and acceptability should also be taken into consideration in the rail operators’ annual fare reviews.
In 2007, the government decided to use the composite consumer price index and transport workers’ wages as major factors in determining if the MTR Corporation should be allowed a fare rise.
However, Hong Kong then entered an inflationary period and the formula has since been blamed for allowing the railway operator to raise fares for three years.
The spokesman said the government aimed to complete the review by early next year.
A public consultation was launched on Monday to garner views on the existing fare formula. It will continue until October 31.