MTR To Raise Fares By 3.14 Percent From June
"); jQuery("#212 h3").html("
"); jQuery(document).ready(function() { jwplayer.key='EKOtdBrvhiKxeOU807UIF56TaHWapYjKnFiG7ipl3gw='; var playerInstance = jwplayer("jquery_jwplayer_1"); playerInstance.setup({ file: "http://newsstatic.rthk.hk/audios/mfile_1388173_1_20180327182929.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', 'http://news.rthk.hk/rthk/en/component/k2/1388173-20180327.mp3', 'WT.ti', ' Audio at newsfeed', 'WT.cg_n', '#rthknews', 'WT.cg_s', 'Multimedia','WT.es','http://news.rthk.hk/rthk/en/component/k2/1388173-20180327.htm', 'DCS.dcsqry', '' ); } } }); }); });
2018-03-27 HKT 17:07
Share this story
The MTR has said its fares will go up by 3.14 percent this June, as shown by calculations based on government data released on Tuesday.
But the railway operator said it will offer rebates to Octopus Card users of 3 percent in the second half of this year, saying this will make the increase less noticeable for card users.
According to the fare adjustment mechanism – a price setting formula agreed between the company and the government – increases are fixed by a calculation that involves the Consumer Price Index in December and a transport workers' wage index.
The wage index figures were released on Tuesday.
According to the formula, the railway operator can raise fares by 1.65 percent this year. But by including the 1.49-percent increase accumulated from the previous year, the total increase allowed would be up to 3.14 percent.
Last year, the company was prevented from increasing fares as the result of the formula did not exceed the threshold, which was set at 1.5 percent.
Earlier this month, the MTR Corporation said its profit soared 64 percent last year to more than HK$16.8 billion, thanks to a sharp rise in property revaluation and robust sales of a residential development in Shenzhen.
______________________________
Last updated: 2018-03-27 HKT 17:28
OKI And Hitachi To Launch Joint Venture For ATM And Automated Equipment In October
OKI, Hitachi, and Hitachi Channel Solutions have announced that they have reached agreements to integrate their automat... Read more
The Race For Hong Kongs First Stablecoin Licenses Is Almost Over
I’ve been refreshing the Hong Kong Monetary Authority’s register of licensed stablecoin issuers frequently over the... Read more
HTF Securities And Alchemy Pay Expand Hong Kong Type 1 License For Virtual Assets
Alchemy Pay has announced that, in partnership with HTF Securities Limited, it has successfully expanded HTF Securities... Read more
Ping An Digital Bank Rebrands As Deposits Exceed HK$12 Billion
Ping An Digital Bank has introduced a new brand identity, aligning more closely with its parent, Ping An Insurance. The... Read more
Futus PantherTrade Launches Full-Scale Licensed Operations In Hong Kong
Futu has announced that its wholly-owned virtual asset trading platform, PantherTrade, has begun full-scale licensed op... Read more
Mastercard Enables AI Agent To Complete Live Ride-Booking Payment In South Korea
Mastercard has completed a live, authenticated agentic transaction in South Korea, marking a key development in AI-powe... Read more