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TAC discusses franchised bus fare increase applications and is briefed on provision of car parking spaces
The following is issued on behalf of the Transport Advisory Committee:

     The Transport Advisory Committee (TAC) discussed today (May 28) the applications for fare increases from the Kowloon Motor Bus Company (1933) Limited, Long Win Bus Company Limited and New Lantao Bus Company (1973) Limited, and was briefed on the latest situation regarding various measures that the Government has adopted to increase the provision of car parking spaces.

     The TAC Chairman, Professor Stephen Cheung, said that in deliberating on the applications from the three franchised bus companies, the TAC had considered and balanced a basket of factors under the Fare Adjustment Arrangement for franchised buses. These factors include public acceptability and affordability, service performance of the bus companies and the past and forecast financial performance of the companies, as well as a supportable fare increase rate computed for reference through a formula making reference to changes in the Composite Consumer Price Index and wage index.

     Professor Cheung said, "Similar to other fare increase applications, the TAC will submit its recommendation to the Government for consideration by the Chief Executive in Council."

     The TAC noted that the Government's policy in the provision of parking spaces is to accord priority to meeting the parking demand for commercial vehicles, and to provide an appropriate number of private car parking spaces if overall developments permit. For the purpose of addressing the shortage of parking spaces, the Government has adopted a multi-pronged approach to increase the number of parking spaces in an orderly manner in accordance with the "single site, multiple uses" principle and through taking forward other measures including better use of technology. The Transport Department (TD) has also undertaken a review of the standards stipulated in Hong Kong Planning Standards and Guidelines in respect of the provision of parking spaces for commercial vehicles and private cars. The review is targeted for completion at end-2019 with a view to promulgating the updated standards in 2020 after consultation with stakeholders.

     Professor Cheung said, "Members welcome that the Transport and Housing Bureau and the TD have strived to increase the number of parking spaces by pursuing a host of short term and medium to long term measures in recent years. Apart from addressing the parking demand, the measures should also help reduce illegal parking and traffic congestion.

     "Members noted that, in taking forward various parking projects, the TD will need to count on the support of relevant stakeholders including the local community. Members appeal to the stakeholders for their support so that more parking spaces may be made available as soon as possible."
Ends/Tuesday, May 28, 2019
Issued at HKT 17:00
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