'Govt Playing Gatekeeper When It Comes To Fare Hikes'

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2023-06-03 HKT 11:37

Share this story

facebook

  • 'Govt playing gatekeeper when it comes to fare hikes'

Transport minister Lam Sai-hung on Saturday said the government has handled public transport fare-hikes cautiously, in order to minimise the impact on the public and make sure operators are financially sustainable.

His comments came as bus fares are set to go up by as much as 7 percent from June 18.

Speaking on a radio programme, Lam said bus operators proposed the fare-hike last year during the fifth wave of Covid, with fewer passengers using bus services.

But he said the government has taken into account updated data on passenger numbers when considering the fare-hike.

"As we are along the path of normalcy, the operating environment of bus companies and other public transport operators has yet to be fully stabilised," he said.

"So we believe that there may be relatively more applications from such operators for fare increases, but certainly the government will play its role as gatekeeper."

Lam added that the government is working with bus operators to develop non-fare revenue, making operations more financially sustainable.

RECENT NEWS

Deep Diving Into The Virtual Banking Scene In Hong Kong

Imagine a world where you can access all your banking needs at your fingertips without ever having to step into a physi... Read more

Job Cuts Hit Morgan Stanley And HSBC In China And Hong Kong

In a move reflecting the challenging market conditions in the Asia-Pacific region, particularly in Hong Kong and China,... Read more

Endowus Launches Full-Service Wealth Management Platform In Hong Kong

Endowus, an independent digital wealth advisor in Asia, has officially launched its comprehensive wealth management pla... Read more

Mox Bank Names Igor Lau As Chief Customer Officer

Mox Bank has appointed Igor Lau as the new Chief Customer Officer (CCO), effective 1 April 2024. Igor Lau steps into th... Read more

Financial Services Are Among The Most At Risk For Digital Fraud In Hong Kong

In Hong Kong, financial services ranked second among the most targeted industries for suspected digital fraud last year... Read more

Three Chinese Firms Gets Nod To Launch Bitcoin And Ethereum ETF In Hong Kong

Hong Kong has taken a significant step by granting initial approvals to three Chinese asset managers to launch exchange... Read more