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Views sought on MTRCL Fare Adjustment Mechanism review
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     The Government today (May 20) launched a three-month public consultation on the review of the Fare Adjustment Mechanism (FAM) of the MTR Corporation Limited (MTRCL).

     A government spokesman said that, since the rail merger in December 2007, an objective and transparent FAM has been adopted by the MTRCL to replace the fare autonomy of the pre-merger MTRCL. The FAM may be reviewed every five years. The outcome of the first review of the FAM was announced by the Government and the MTRCL in April 2013. The next review is originally due for completion in 2018.

     "The Government considers that the experience gained so far since the last review suggests that there is possible room for an early review of the FAM, so that the operation of the FAM can further respond to the public concern about the Corporation's overall profitability and passengers' affordability, whilst still respecting the financial prudence required of the Corporation as a listed company," the spokesman added.

     From today until August 19 (Friday), members of the public may send in their views on the review of the FAM of the MTRCL by post (addressed to the Bus and Railway Branch of the Transport Department, 40/F, Immigration Tower, 7 Gloucester Road, Wan Chai, Hong Kong), by fax (2519 7017) or by email (fam-review2016@td.gov.hk). 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).

Ends/Friday, May 20, 2016
Issued at HKT 16:53

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