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A Government spokesman today (October 24) announced that the consultation period on the review of the Fare Adjustment Mechanism (FAM) of the MTR Corporation Limited (MTRCL) would be extended to November 18 this year.
The consultation was originally scheduled to close on October 31.
Members of the public are welcome to continue sending their views on the subject to the Transport Department before the closing date. The consultation paper can be downloaded from the websites of the Transport and Housing Bureau (www.thb.gov.hk) and the Transport Department (www.td.gov.hk).
The spokesman said that since the merger of the two railway networks in December 2007, an objective and transparent FAM has been adopted to replace the fare autonomy of the pre-merger MTRCL.
The existing FAM is a direct-drive formula that takes into account changes in the Composite Consumer Price Index (CCPI), the Nominal Wage Index of the Transportation Section (NWI(TS)) as well as pre-determined productivity factor. The adoption of CCPI and NWI(TS), which are published data of the Census and Statistics Department, seeks to align fare adjustments with the macroeconomic environment and wage levels. Based on the data of these objective indices, fares are maintained or adjusted upward or downward annually.
As part of its public consultation exercise, the Government has sent letters to the traffic and transport committees of all District Councils to invite their views. The Government will also consult the Legislative Council Panel on Transport and the Transport Advisory Committee.
The public may send their views to the Transport Department by post (addressed to the Bus and Railway Branch of Transport Department, 40/F, Immigration Tower, 7 Gloucester Road, Wan Chai, Hong Kong), by fax (2802 2679) or by e-mail (fam-review@td.gov.hk).
Ends/Wednesday, October 24, 2012
Issued at HKT 17:35
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