Tate's Cairn Tunnel Company seeks 11pc toll rise
Operator seeking 11 per cent fare increase, citing need to keep up with inflation
The operator of the Tate's Cairn Tunnel is seeking approval to charge HK$1 to HK$2 more in road fees from July.
The Tate's Cairn Tunnel Company last raised tolls two years ago, by about 6 per cent. It posted a net profit of almost HK$190 million in 2010/11.
This time, the company has applied for an 11 per cent increase, which it hopes to implement from July.
"The last toll increase was in December 2010," general manager Wong Tse-kin said yesterday. "We have taken into account inflation and we believe our proposed increase this time is reasonable. I hope the public will appreciate our situation and accept the toll increase."
The Legislative Council transport panel is expected to discuss the issue at a meeting next Friday. The Executive Council will make the final decision.
The company is targeting a flat HK$2 increase for all vehicles except motorcycles, for which it wants HK$1 more.
Its proposal means motorcyclists are to pay HK$13, private cars and taxis HK$17, minibuses HK$23, lorries HK$28, and double-deckers HK$34.
The operator made HK$189.6 million in net profit, a rise of 7.5 per cent on the previous year.
Gary Fan Kwok-wai, deputy chairman of the transport panel, said the increase was hefty and unreasonable.
"It is far higher than inflation," Fan said. "It may trigger a chain reaction, prompting other public transport firms to follow suit."