URBAN taxi fares will increase by more than 11 per cent on January 15, with the flagfall going up from $11.50 to $13.
In addition, the fare for each subsequent 200 metres, or one minute waiting time, will rise by 10 cents to $1.10.
New Territories taxi fares will also increase by about 10 per cent with the flagfall going up from $10 to $11, plus $1 per 200 metres or minute waiting.
The fare increase package, proposed by the Transport Advisory Committee last month, was approved by the Executive Council yesterday.
Exco also agreed to impose stiffer penalties on taxi drivers who break the rules by doubling the fines from $5,000 to $10,000.
Drivers who refuse fares or put up their 'Out of Service' signs while bargaining with passengers will face fixed penalty fines of $450.