XN000022-1994-06-21 — Page 5

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TUESDAY, JUNE 21, 1994

THE TASK

HE WAS CONFIDENT THAT THE COMPREHENSIVE APPROACH OF FORCE WOULD PRODUCE THE DESIRED RESULT, AND HE REMAINED CONVINCED THAT THE LONG-TERM SOLUTION TO THE PROBLEM OF SPIRALLING PROPERTY PRICE WAS TO INCREASE SUPPLY.

PRODUCE

ΤΟ TIME HOWEVER, HE POINTED OUT THAT IT WOULD TAKE

IN SUPPLY AND TO PUT

PLACE ALI. THE INSTITUTIONAL ADDITIONAL

RESPOND MORE ARRANGEMENTS

WOULD ENABLE THE ADMINISTRATION TO WHICH EFFECTIVELY TO CHANGES IN THE MARKET SITUATION IN FUTURE.

"IF THE MARKET SHOULD BECOME OVER-HEATED AGAIN IN THE

ΤΟ MEASURES WILL HAVE NO HESITATION IN INTRODUCING SITUATION IN CHECK,

WE

"

HE SAID.

INTERIM, KEEP THE

0

-

EXCO APPROVES CMB FARE RISE

* *

*

THE

HAS GOVERNOR-IN-COUNCIL

APPROVED A FARE INCREASE BY A WEIGHTED AVERAGE OF 9.8 PER CENT FOR CHINA MOTOR BUS (CMB) WITH EFFECT FROM JULY 3.

THE APPROVED FARE INCREASE IS SUBSTANTIALLY LOWER THAN THE 19.1 PER CENT SOUGHT BY THE COMPANY IN ITS APPLICATION.

ROUTES WHICH HAS EXCLUDING THE INCREASE FOR CROSS HARBOUR

FOR HONG KONG ALREADY BEEN

APRIL 1, CMB'S FARES INTRODUCED SINCE ISLAND ROUTES WILL ONLY GO UP BY A WEIGHTED AVERAGE OF 5.6 PER CENT.

UNDER THE NEW FARES SCALE, ABOUT 96 PER CENT OF THE WILL ONLY PAY 10 TO 20 CENTS MORE PER TRIP.

PASSENGERS

A SUMMARY OF THE RATE OF INCREASE IN ROUTES IS;'

RESPECT OF

INDIVIDUAL

43 ROUTES FOR DAILY COMMUTERS

RANGE OF

% INCREASE

INCREASE

IN MONEY TERMS

5.7% TO 9.5%

20 CENTS TO 30 CENTS

37 ROUTES FOR DAILY COMMUTERS

1.1% TO 5.6%

10 CENTS TO 20 CENTS

*

15

4.2% TO 19.1%

20 CENTS TO 80 CENTS

RECREATIONAL

ROUTES

THE NEW FARES WILL ONLY INCREASE THE CONSUMER PRICE INDEX MARGINALLY BY 0.03 PER CENT.

/CONCURRENT WITH

(A)