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A Government spokesman said today (March 26) that the five-yearly review of the Fare Adjustment Mechanism (FAM) of the MTR Corporation Limited (MTRCL), jointly conducted by the Government and the Corporation, is still under way.
A Government spokesman said that the Government is fully alive to the views and aspirations of the community that the review should address three key elements: MTRCL's profit level, its service performance and public affordability.
"It remains the objective of the Government and MTRCL to modify the existing FAM so that a revised FAM will be able to cover the three key elements. After the FAM review is concluded, the Government will make an announcement on the review outcome. Both parties aim to conclude the review before MTR fares are adjusted in June as in previous years, in accordance with the outcome of the revised FAM," a Government spokesman explained.
In accordance with the Operating Agreement signed between the Government and MTRCL in August 2007, the FAM can be reviewed every five years after the merger date. In this connection, the Government served a written notice to MTRCL in August 2012 requesting a review of the FAM.
Ends/Tuesday, March 26, 2013
Issued at HKT 16:39
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