Fare Hikes 'too Little Too Late', Say Taxi Drivers
"); jQuery("#212 h3").html("

"); });
2022-05-11 HKT 10:56
Taxi driver representatives on Wednesday expressed worries that a “mild” increase in flagfall charges may hurt their income instead of helping them.
The Executive Council had approved the increase of flagfall charges by HK$3, but taxi drivers said it is only half of what they had been asking for over the past years.
Speaking on an RTHK programme, To Sun-tong from the Motor Transport Workers General Union said he expects business to fall initially when the new fares take effect from mid-July.
He also urged taxi owners not to increase rent too soon as drivers are still suffering from a drop in passenger numbers because of the Covid-19 epidemic.
To said the public may be more accepting if the flagfall rates increase gradually every two years.
He added that the government must step up law enforcement against illegal ride hailing services.
The chairman of the Hong Kong Taxi and PLB Association, Chow Kwok-keung, meanwhile, proposed a fare adjustment mechanism similar to the one adopted by the MTR which takes into account a host of factors like inflation and average wage increase.
"To be honest, it took five years to approve our application. By delaying it, does the government genuinely want to help the industry?
“At the same time officials say they want to help improve the service quality of taxis… If our income can't catch up, how can the industry improve service quality?" Chow questioned.
Chow noted the average age of cab drivers is going up, and without sufficient incentive, it will be more difficult to attract new blood to join the industry.
SBI Holdings To Acquire Bitbank In US$289M Crypto Expansion
SBI Holdings has agreed to acquire Japanese crypto exchange Bitbank in a deal valued at approximately US$289 million, w... Read more
4 Ways Hong Kong Banks Fight Financial Crime Using AI, According To HKMA
The Hong Kong Monetary Authority (HKMA) wants banks to use AI in financial crime as a way to counter cyberattacks and s... Read more
Ripple Launches RLUSD Stablecoin In Japan Through SBI Group
Ripple has launched its US dollar-denominated stablecoin, Ripple USD, in the Japanese market. The expansion follows reg... Read more
SBI And Startale Launch Trust Bank-Backed Yen Stablecoin JPYSC In Japan
SBI Group has introduced its trust based stablecoin JPYSC in partnership with Singapore-based fintech company Startale ... Read more
Visa Study: Digital Wallets Lead Greater Bay Area Payment Preferences
Visa has released its latest Consumer Payment Attitudes Study, highlighting how payment seamlessness is linked to a shi... Read more
European And South Korean Banks Form Project Pangea For FX Settlement
Chainlink, South Korean infrastructure provider FairSquareLab, the Unified Korea Alliance (UniKA), and European stablec... Read more
