'Govt Playing Gatekeeper When It Comes To Fare Hikes'
"); jQuery("#212 h3").html("

"); });
2023-06-03 HKT 11:37
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.
Manulife Names Wilton Kee As CEO For Hong Kong And Macau
Manulife has appointed Wilton Kee as the new Chief Executive Officer for its Hong Kong and Macau operations, effective ... Read more
Banks Are Not Ready For AI | Singapore AI CxO Roundtable
In this exclusive roundtable jointly hosted by Fintech News Network and Alteryx, senior banking leaders in Singapore sh... Read more
Mizuho Bank To Invest In Rakuten Bank In October
Mizuho Bank will shift its investment into a 5.81% stake in Rakuten Bank, according to Japan Today. The move allows the... Read more
Forthright Subsidiaries Secure SFC Approval For Virtual Asset Services Across 3 Licenses
Forthright Securities and Forthright Capital have received approval from the Securities and Futures Commission (SFC) to... Read more
SFC Names Elisa Ng To Lead Investment Products, Reappoints Lisa Chen
The Securities and Futures Commission (SFC) has appointed former J.P. Morgan Asset Management executive Elisa Ng as its... Read more
Mastercard And JD.com Partner To Expand Cross-Border Payment Options In China
Mastercard and JD.com have entered a strategic partnership to develop cross-border supply chain finance tools for busin... Read more