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TAC endorses Star Ferry fare increase recommendation
At its meeting this (Tuesday) afternoon, the Transport Advisory Committee (TAC) endorsed the Administration's recommendation of an 18.9 per cent fare increase for Star Ferry (SF) in February/March 1996. The recommendation will be submitted to the Executive Council for consideration.
The recommended fare increase would mean that the great majority of SF's passengers would have to pay no more than 30 cents more per trip.
About six per cent of the passengers who are elderly enjoying free travel on the ferry will not be affected.
TAC agreed that without a fare increase, SF would anticipate an operating loss in 1996 because of rising operating costs and falling patronage.
If the recommended fare increase is implemented, SF is expected to make a small profit in 1996.
TAC was satisfied that SF has been providing a satisfactory service. Even with the fare increase, SF is still the cheapest cross-harbour public transport service.
SF last increased its fares by 13.7 per cent on December 18, 1994.
End/Tuesday, November 21, 1995
Consumer Price Indices for October
The Consumer Price Index (A) in October 1995 was 8.4% higher than in October 1994, according to figures released today (Tuesday) by the Census and Statistics Department. This was lower than the corresponding increase of 8.9% in September this year.
Moderation was also recorded in the Consumer Price Index (B) and the Hang Seng CPI. In October 1995, the CPI(B) and the Hang Seng CPI rose by 8.8% and 9.4% respectively over a year earlier, as compared to the corresponding increases of 9.1% and 9.8% in September.