'Bus Firms Will Fare Better Now HK Is Normal Again'
"); jQuery("#212 h3").html("
"); });
2023-05-31 HKT 11:57
Transport minister Lam Sai-hung on Wednesday played down concerns that Hong Kong's bus operators will soon be asking for further fare increases, saying the city's return to normal after the Covid pandemic means they will be carrying more passengers.
The official made the comment a day after five franchised bus companies were given the go-ahead to push up fares by between 3.9 and 7 percent.
On an RTHK programme, Lam said circumstances have changed since the companies asked for bigger increases last year.
"At the time, the outlook, how long the path to normalcy would be, or how big of an impact the pandemic would have, were unknown," Lam said.
"Now that we are returning to normal, tourists are coming back and everyone is returning to work and school. So in terms of revenue, I believe the situation will be much better than in the previous two years."
The minister also said the government will proactively work with operators to boost their non-fare revenue.
Letting other commercial vehicles use charging devices at bus depots, or installing vending machines and smart lockers at bus stops could be some ways, he added.
DAB lawmaker Ben Chan told the same programme that officials should consider boosting non-fare revenue with park-and-ride facilities, which offer concessions to encourage motorists to park their vehicles near mass transit hubs and take public transport to travel to urban areas.
"The park-and-ride facilities could collect parking fees, and also have business income from, for example, renting out spaces for restaurants and shops. These will help with the operation of bus companies," Chan said.
Chan, who also chairs the Legislative Council's transport panel, added that non-fare revenue should make up 15 to 20 percent of the operators' income.
Cyberport And Cisco To Enhance AI And Cybersecurity In Hong Kong
Cyberport, and Cisco signed a Memorandum of Understanding (MoU) to enhance artificial intelligence (AI), future-ready n... Read more
Austin-Based Episode Six Targets Hong Kong For Virtual Payment Expansion
Episode Six (E6), a global provider of payment processing and digital ledger infrastructure, has announced plans to exp... Read more
Hong Kong Stock Exchange Introduces Bitcoin And Ether Spot ETFs
The Hong Kong Stock Exchange now lists the Bosera HashKey Bitcoin ETF and Bosera HashKey Ether ETF. This move introduce... Read more
German Startup Tozero Wins Top Prize At HKSTP EPiC 2024
Hong Kong Science and Technology Parks Corporation (HKSTP) has announced the conclusion of its flagship Elevator Pitch ... Read more
Ping An OneConnect Bank Records HK$2.1 Billion Loan Assets Growth In FY2023
Ping An OneConnect Bank (Hong Kong) Limited, a virtual bank focused on small and medium enterprises (SMEs) in Hong Kong... Read more
Alipay+ Integrates 14 Global E-Wallets For Seamless Payments In Hong Kong
Alipay+, operated by Ant International, has announced a significant expansion in Hong Kong, enabling users from 14 pop... Read more