After further informal meetings with world and regional leaders, Mr Tsang will return to Hong Kong on February 6 (Tuesday).
The World Economic Forum was established in Switzerland in 1971 as an independent, international, non-profit and non-partisan organisation to bring world leaders together in a global partnership.
End
Citybus and CMB fare increase endorsed
At the meeting held this (Tuesday) afternoon, the Transport Advisory Committee (TAC) endorsed a 9.5 per cent fare increase for Citybus's Hong Kong Island routes, and a 10.7 per cent fare increase for China Motor Bus's (CMB) Hong Kong Island routes.
The recommendations will be submitted to the Executive Council for consideration. The new fares are to take effect in March.
As most cross harbour routes are jointly operated by CMB, Citybus and Kowloon Motor Bus, it is necessary to maintain a common fare scale to avoid confusion to the travelling public.
TAC has endorsed a weighted average fare increase of 10 per cent for all cross harbour routes with effect from March.
CMB and Citybus last increased the fares of their Hong Kong Island routes in July 1994 and September 1994 respectively. Without a fare increase, both companies would suffer sizeable losses in 1996 and 1997.
The recommended increase would give Citybus a reasonable level of return in the next two years as an incentive for further investment to improve its service.
As for CMB, with the recommended fares, the company will earn a small profit this year but incur a loss in 1997.
Page 10Page 11