MTR To Freeze Fare Hike Until Early April
"); jQuery("#212 h3").html("
"); jQuery(document).ready(function() { jwplayer.key='EKOtdBrvhiKxeOU807UIF56TaHWapYjKnFiG7ipl3gw='; var playerInstance = jwplayer("jquery_jwplayer_1"); playerInstance.setup({ file: "https://newsstatic.rthk.hk/audios/mfile_1454329_1_20190424183921.mp3", skin: { url: location.href.split('/', 4).join('/') + '/jwplayer/skin/rthk/five.css', name: 'five' }, hlshtml: true, width: "100%", height: 30, wmode: 'transparent', primary: navigator.userAgent.indexOf("Trident")>-1 ? "flash" : "html5", events: { onPlay: function(event) { dcsMultiTrack('DCS.dcsuri', 'https://news.rthk.hk/rthk/en/component/k2/1454329-20190424.mp3', 'WT.ti', ' Audio at newsfeed', 'WT.cg_n', '#rthknews', 'WT.cg_s', 'Multimedia','WT.es','https://news.rthk.hk/rthk/en/component/k2/1454329-20190424.htm', 'DCS.dcsqry', '' ); } } }); }); });
2019-04-24 HKT 16:14
Share this story
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".
Is Hong Kongs Default Life Insurance Choice A Wealth Drain?
Hong Kong is a city that takes financial security seriously, boasting one of the highest insurance penetration rates in... Read more
RedotPay Secures $107M Series B, Total Funding Hits $194M
RedotPay, a global stablecoin-based payment fintech, has closed a US$107 million Series B round, bringing its total cap... Read more
91% Of Hong Kong Merchants Lose Revenue To Payment Friction
Aspire has released its Hong Kong Ecommerce Pulse Check 2025, highlighting that while mid-sized ecommerce merchants rem... Read more
Do Kwon Faces Possible Trial In Korea After US Conviction
Do Kwon, the crypto tycoon behind the 2022 collapse of TerraUSD and Luna, caused an estimated US$40 billion in investor... Read more
Startale, SBI Holdings To Develop Japans Regulated Yen Stablecoin
Startale Group and SBI Holdings have signed a MoU to jointly develop and launch a fully regulated Japanese yen-denomina... Read more
KakaoBank Expands In Indonesia Through Superbank Partnership
KakaoBank, South Korea’s largest internet-only bank, is accelerating its global expansion through a deepened partners... Read more