MTR To Freeze Fare Hike Until Early April
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2019-04-24 HKT 16:14
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MTR commuters will be enjoying some more breathing room as a planned MTR fare hike will not set in until early April next year, instead of January as originally planned.
The rail company normally freezes its annual fare adjustment for six months, until the end of December.
It's now extending the freeze of a 3.3-percent fare hike in the upcoming year until early April.
In papers submitted to the legislature on Wednesday, the MTR Corporation said it had decided to make the extension after discussing the issue with the government.
The firm said it had also been closely monitoring public concern over the fare increase since it announced the hike a month ago.
The corporation also said the extra concession was made as part of its celebrations of the company's 40 years in service.
According to the fare adjustment mechanism, the fare concessions offered during this financial year include HK$225 million from a "profit sharing mechanism", and HK$20 million from "service performance arrangement", which is based on train service disruptions.
Transport minister Frank Chan said in a statement that he welcomed the decision, saying he was pleased with the MTR's "response to public concern".
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