The Hong Kong Executive Council approved fare increases for KMB, Citybus and NWFB and New Lantao Bus on the 16th. (CNA)
The Hong Kong government has just announced that the unemployment rate climbed to a new high in 17 years, but the Chief Executive in Council approved four bus companies’ applications for fare increases, among which Citybus and NWFB’s 12% increase is the most alarming and will be implemented in phases next month and January next year, scholars and legislators are of the view that fare increases against the market are bound to increase the financial burden of the public.
A government spokesman said that the Executive Council yesterday considered the fare increase applications of five bus companies, taking into account the changes in costs and revenue after the last fare increase; future cost, revenue and return projections; reasonable rates of return for operators; public acceptance and affordability, etc., and fully considered the views of the Legislative Council Panel on Transport and the Transport Advisory Committee, decided to approve the applications of four of the bus companies, including Citybus and Citybus and NWFB increased by 12%, New Lantao Bus increased by 9.8% and KMB increased by 8.5%.
The Chinese University of Hong Kong Business School senior lecturer Lee Siu-por pointed out that the bus companies in the Epidemic market fare increases, will increase the burden of the public, but also the public’s negative impression of the bus companies, but the bus companies themselves need to face the difficult operating conditions, so fare increases may be difficult to avoid, “even if the delay in fare increases this Time, the public should also be psychologically prepared for future bus companies will add, by then the rate of increase is even higher .” He suggested that the government increase the transport subsidy to the public to relieve financial pressure.
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