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Hong Kong MTR passengers face fare rises of about 3% from June
Hong Kong’s sole rail operator will raise fares by a maximum of 3.09 per cent this year, the second increase since authorities imposed a new formula that factors in profits from its property developments to mitigate ticket price changes.
According to the Census and Statistics Department on Tuesday, the wage index for transport sector workers was 5.2 per cent in December, one of a basket of factors, including inflation and the MTR Corporation’s productivity and profitability, used to determine the fare rise, which comes into effect from June.
Hong Kong’s MTR fines 4,260 passengers for misuse of HK$2 fare scheme
Hong Kong’s MTR fines 4,260 passengers for misuse of HK$2 fare scheme
These factors would result in a fare rise of 5.05 per cent. However, there is a mechanism that caps the increase by tying in with the year-on-year median change in a general household’s monthly income in the fourth quarter of last year, at 3.09 per cent.