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WEDNESDAY, JUNE 22, 1994
THE
ANNOUNCED TRANSPORT
"IN
HIS OPENING ADDRESS LAST OCTOBER, THE GOVERNOR GOVERNMENT'S INTENTION TO ASK ALL UTILITIES AND PUBLIC COMPANIES TO ADOPT NEW STANDARDS OF DISCLOSURE ON THEIR FINANCIAL OPERATIONAL ACTIVITIES.
AND
"AND INDEED EARLIER THIS MONTH THE ECONOMIC SERVICES AND PUBLIC UTILITIES PANEL OF THIS COUNCIL WAS FULLY BRIEFED ON THE STEPS THAT HAVE BEEN TAKEN.
"ADMITTEDLY
M
SOME COMPANIES HAVE BEEN MORE RESPONSIVE THAN
OTHERS, HE SAID.
INCREASE
ILLUSTRATING THE PROCEDURES FOR PROCESSING FARE APPLICATIONS, MR BARMA SAID A COMPANY, WHEN SEEKING FARE INCREASE, HAS TO PROVIDE
OPERATIONAL THE NECESSARY FINANCIAL AND SUPPORT OF ITS APPLICATION.
IN
INFORMATION
IN
J
BRIEF, SUCH INFORMATION MUST INCLUDE THE RATE OF FARE AND INCREASE APPLIED FOR; THE PROPOSED NEW FARES ON INDIVIDUAL ROUTES
WAGES ROUTE GROUPS; DETAILED BREAKDOWN OF OPERATING COSTS COVERING REPAIRS AND MAINTENANCE EXPENSES; PATRONAGE AND REVENUE FORECASTS ; SERVICE IMPROVEMENT AND FUTURE DEVELOPMENT PROGRAMMES ; AND OTHER SUPPORTING AND SUPPLEMENTARY INFORMATION.
SUCH DATA, ONCE RECEIVED, WILL BE CAREFULLY ASSESSED BY THE ADMINISTRATION, WHICH WILL THEN GO THROUGH THE PROCESS OF BRIEFING THE LEGISLATIVE
PANEL ON TRANSPORT, SEEKING ADVICE FROM THE COMMITTEE AND THEN APPROVAL FROM THE EXECUTIVE
COUNCIL ADVISORY
TRANSPORT COUNCIL.
MR BARMA POINTED OUT THAT THE OUTCOME OF THE APPLICATIONS FARE INCREASES SOUGHT THIS YEAR BY KOWLOON MOTOR BUS ( (KMB) AND MOTOR BUS (CMB) VIVIDLY ILLUSTRATED THE METICULOUS VETTING BY THE ADMINISTRATION.
FOR
CHINA UNDERTAKEN
ACTUAL
"ALTHOUGH KMB AND CMB SOUGHT 19.6% AND 19.1% INCREASES IN FARES, THEIR APPLICATIONS WERE SUBSTANTIALLY SLASHED WITH THE INCREASES BEING LIMITED TO 12.9% AND 9.8% RESPECTIVELY.
MR BARMA SAID ALTHOUGH DETAILED FORECASTS OF FUTURK REVENUE ! COSTS AND PROFIT WERE MADE AVAILABLE 'TO
SUCH TRF GOVERNMENT, INFORMATION COULD NOT BE REVEALED PUBLICLY BECAUSE MOST OPERATORS WERE PUBLICLY-LISTED COMPANIES.
"BUT WE WILL CERTAINLY LOOK AGAIN AT THIS ASPECT TO TRY ΤΟ LIMIT INFORMATION REALLY NEEDS TO BE KEPT CONFIDENTIAL.
DIVULGE ROUTES TO
"TRANSPORT OPERATORS, UNDERSTANDABLY, ARE RELUCTANT TO INFORMATION SUCH AS PROFIT AND LOSS FIGURES ON INDIVIDUAL THEIR COMPETITORS.
MR
GOOD BARMA POINTED OUT THAT TRANSPORT WAS A VERY FOR ELECTIONEERING.
PLATFORM
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