RANGE OF % REDUCTION
TUESDAY, MAY 24, 1994
REDUCTION IN MONEY TERMS
EXTENSION OF
CONCESSIONARY FARE
SCHEME FOR ELDERLY
PASSENGERS
33%
45%
$1.4
—
$9
EXTENSION OF
CONCESSIONARY FARE
SCHEME FOR CHILDREN
33%
-
40%
$1.5
―
$6
SATURDAY MORNING
FARE REDUCTIONS
12%
―
- 67%
$0.7
—
$9
7.6
ALSO, FARES FOR VEHICULAR SERVICES WILL GO UP BY AN AVERAGE OF PER CENT AND FREIGHT SERVICE BY 20 PER CENT. THE NON-PEAK HOUR DISCOUNTED FARE FOR NEW TOWN HOVERFERRY SERVICES WILL BE WITHDRAWN.
THE APPROVED RATE OF INCREASE IS LOWER THAN THE ESTIMATED INFLATION RATE OF 17 PER CENT FROM JULY 1992 TO JULY 1994. OVERALL ABOUT 77 PER CENT OF THE TOTAL PASSENGERS WILL HAVE THEIR FARES INCREASED BY 15 PER CENT AND BELOW.
THE NEW FARES WILL ONLY INCREASE THE CONSUMER PRICE INDEX (A) MARGINALLY BY 0.01 PER CENT.
A GOVERNMENT SPOKESMAN SAID EVEN WITH THE APPROVED FARE INCREASE, THE COMPANY WOULD NOT BE MAKING ANY PROFIT THIS YEAR LARGELY BECAUSE OF DECREASING PATRONAGE, INCREASING OPERATING COST AND STRONGER COMPETITION FROM OTHER MODES OF PUBLIC TRANSPORT.
THE FARE INCREASE WILL ONLY BE ABLE TO REDUCE THE ESTIMATED
LOSS.
$742 MILLION WORKS CONTRACT AWARDED
*
THE DIRECTOR OF WATER SUPPLIES, MR HU (TUESDAY) SIGNED A $742-MILLION CONTRACT WITH THE FOR THE CONSTRUCTION OF MA ON SHAN TREATMENT WORKS,
THIS IS THE LARGEST
SUPPLIES DEPARTMENT.
MAN-SHIU, TODAY AOKI CORPORATION
CONTRACT EVER AWARDED BY THE WATER
UPON COMPLETION BY THE END OF 1996, THE MA ON SHAN TREATMENT WORKS WILL HAVE A PUMPING STATION AND A DAILY OUTPUT OF 227,000 CUBIC METRES AND A PRIMARY SERVICE RESERVOIR WITH A STORAGE CAPACITY OF 40,000 CUBIC METRES.
IT CAN MEET THE DEMAND OF THE GROWING POPULATION IN MA ON SHAN AS WELL AS THE EASTERN AND WESTERN AREAS OF SHA TIN FOR MORE FRESH WATER SUPPLY.
/ANOTHER CONTRACT