Editorial | Rises in Hong Kong fares must be affordable for public
- City authorities need to play gatekeeping role with travel by train, bus, ferry and road becoming more expensive
The post-Covid economic recovery appears to have made increases in public utility bills a foregone conclusion. While the public may have no choice but to dig deeper into its pockets, the rises should be reasonable and affordable.
When it comes to fare adjustments, the government needs to play a more vigorous gatekeeping role.
Passengers were warned earlier by the MTR Corporation to expect a rise in travel costs under a half-hearted revamp of a fare adjustment formula. Even though the increase following the overhaul has turned out to be a moderate 2.3 per cent, it still adds to the burden of many who have yet to benefit from the sluggish pace of recovery.
According to the Transport and Logistics Bureau, the revised formula, which takes into account the rail giant’s profits from property development for the first time, will help lower the fare adjustment rate for this year by nearly 4 per cent. Special concessions have also helped reduce the cost to passengers.
Officials may believe they have headed off criticism and pressure following the overhaul, which means 90 per cent of those who use the MTR will have to pay an extra 40 HK cents per trip at most. Moderate as it seems, travellers may still find it hard to take, especially when the operator’s multibillion dollar profits and service breakdowns in recent years are taken into consideration.