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The Executive Council agreed today (January 22) to amend the toll of the Tsing Sha Control Area (TSCA). The newly proposed flat rate of $8 for all vehicle types using TSCA will replace the originally proposed $12 differential toll regime.
"The proposed reduction of the tolls for the TSCA is Government¡¦s response to rising public concern about the upward trend in the cost of living, including transportation costs, by implementing relief measures on a timely basis," said a spokesman from Transport and Housing Bureau.
The spokesman said that by making reference to the toll regime of Lion Rock Tunnel, the proposed toll would attract more vehicles to use the TSCA.
The spokesman pointed out that under the original differential toll regime of $12, it will take 56 years after the commissioning of the TSCA to meet the target of 8.4% average return on Average Net Fixed Assets set for Government toll roads. The payback period is estimated to be 34 years. Under the proposed revised flat toll regime of $8, the target return will be met in 80 years¡¦ time, while the payback period is estimated to be 53 years.
The Administration will move a motion to amend Schedule 1 to the Tsing Sha Control Area (Tolls, fees and charges) Regulation, thereby replacing the differential toll regime of $12 with the revised flat rate of $8 for all vehicle types using the TSCA, by way of a LegCo resolution on January 30, 2008.
Ends/Tuesday, January 22, 2008
Issued at HKT 16:49
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