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The Transport Advisory Committee (TAC) today (May 13) discussed applications for fare increases from The Kowloon Motor Bus Company (1933) Limited, Long Win Bus Company Limited, New Lantao Bus Company (1973) Limited, Citybus Limited and New World First Bus Services Limited.
TAC Chairman Ms Teresa Cheng Yeuk-wah said the TAC, in deliberating on the applications, had considered and balanced various factors in the bus fare adjustment arrangement approved by the Chief Executive-in Council in 2006, including the outcome of the formula; the magnitude of change in median household income reflecting public acceptability and affordability; the quality of the bus companies' service, as well as the past and forecast financial performance of the companies.
"The TAC notes that the financial situations and forecast performances of different bus companies are not the same. Taking into account all relevant factors, we will make recommendation based on individual operators' own conditions, to enable them to sustain the provision of quality services and encourage them to further improve services," she said.
"Similar to other fare increase applications, the TAC will submit its recommendations to the Government for consideration by the Chief Executive-in-Council," she said.
Ends/Tuesday, May 13, 2008
Issued at HKT 16:16
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