Two in three MTR passengers dissatisfied with fare adjustment tool
Mechanism whose objective was to keep prices under control approved fare rises in past seven years
MTR passengers have lost confidence in a mechanism meant to keep fares in check, according to a Civic Party survey, while lawmakers seek stricter rules for the railway giant.
More than two-thirds of 1,002 respondents in a telephone poll last month expressed dissatisfaction towards the fare adjustment mechanism, which gave the green light to fare rises in the past seven years. The respondents were each asked seven questions.
The formula, which takes into account the consumer price index, wages of transportation workers and a pre-determined productivity factor, is currently under review, with results expected by this year.
Lawmaker Kwok Ka-ki said 61 per cent of those polled also agreed that more rebates should be introduced under the current profit-sharing system, which requires MTR to set aside 2 per cent of its profits for fare concessions. The company yielded a net profit of HK$10.2 billion last year.
The railway operator is also tied to a service performance arrangement which imposes financial penalties in the event of serious disruptions.