'MTR fare hike increases burden on passengers'
Train passengers on Tuesday said the MTR Corporation's move to increase fares will increase their financial burden, while lawmakers called on the rail operator to provide more discounts. The rail giant announced a fare hike of 3.09 percent from June this year, marking the second increase since authorities imposed a new formula that factors in profits from the MTR's property developments. One commuter who spoke to RTHK said he does not think it is a good time to increase the fares. “Everything is expensive, and the costs are getting higher. Transport fees are part of the daily expenses. It's piling more burden onto our lives,” he said. Another passenger said: "I don't have options other than the MTR. I cannot do anything but accept it." DAB lawmaker Ben Chan, who chairs Legco’s transport panel, said the rail operator should fulfil its corporate responsibility to relieve citizens' pressure. "This fare increase will be an extra burden to citizens. It is equivalent to piling more hardship on them under the current economic situation," he added. "We also hope that the MTR will introduce additional discounts in light of this fare increase – and in a straightforward way –  such as offering a free ride after 10 paid rides." Lawmaker Gary Zhang, who had served as an MTR station services manager, called on the government to review the current fare adjustment mechanism. "If our mechanism consistently triggers the upper limit, under the current economic condition, it indicates that the mechanism itself is unreasonable. Over the past decade, there have been four instances when the upper limit has been triggered. It shows that the mechanism needs to be reviewed," he explained. And Roundtable lawmaker Michael Tien said the fare adjustment mechanism should take into account profits not only from the corporation's property developments. "The property development profit will be at a very low level for the next few years because of the current interest rate. And, if you look at the budget of the Financial Secretary, he is projecting annual deficits of HK$100 billion or more, all because of land sales,” Tien said.  “So in the future, unless the interest rates come down, the MTR's property development profit will, I am quite sure, be always below the HK$5 billion-mark," he explained. But the lawmaker also said the fare hike has balanced the interests of both passengers and the rail giant, as the MTR needs to maintain its service quality.