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Star Ferry fare rise approved by ExCo
The Governor-in-Council today (Tuesday) approved a fare increase by a weighted average of 18.9 per cent for the "Star" Ferry Company Limited to take effect in early March this year.
A government spokesman pointed out that the company last revised its fare in December 1994 and with falling patronage and increasing operating costs, it was expected to incur losses in 1996 and 1997.
In approving the rise, the spokesman said, the Governor-in-Council took a number of factors into account, including the financial position of the company, its satisfactory standard of service and the acceptability of the fare increase to the public.
said.
"The impact the fare increase would have on inflation would be minimal," he
Details of the fare increase are as follows:
Services
Range of % increase
Increase in money terms
Edinburgh Place - Kowloon Point
19%
20 to 30 cents
Edinburgh Place - Hung Hom
20.7%
20 to 50 cents
17.7%
20 to 30 cents
Wan Chai - Kowloon Point
The spokesman said the approved rate of increase was considered necessary to offset rising operating costs, particularly on pier maintenance and replacement of engine parts in older vessels.
In overall terms, about 90 per cent of the passengers would have to pay only 20 to 30 cents more per trip, he added.
End
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