XN000022-1996-02-13 — Page 3

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"For this reason, a 10 per cent fare increase will also be applied to the cross harbour routes operated by KMB on March 3.

"Without a fare increase, CMB will suffer sizable losses in 1996 and 1997. With the fare increase, the company will earn a small profit in 1996 but incur a loss in 1997.

"The increase will also provide some incentive for the company to improve its services. With the new fares, about 67 per cent of CMB's passengers will pay only 30 to 40 cents more per trip."

The spokesman noted that CMB will also extend its elderly concessionary fare scheme to cover all its cross harbour routes at the same time when the new fares come into effect.

End

Findings on parking demand released

A study on the parking demand in Hong Kong reveals that facilities for private cars are in general meeting current and future demand.

However, the study finds that a serious territory-wide shortfall of goods vehicle parking spaces exists and the situation will deteriorate if the problem is not immediately addressed.

This was said by the Deputy Commissioner for Transport, Mrs Dorothy Chan Yuen Tak-fai, at a press conference today (Tuesday) to announce the findings of the Parking Demand Study (PDS) and the Government's remedial actions.

The study, commenced in November 1993 and completed in December last year, aimed to prepare a detailed inventory of existing parking spaces, to assess the existing and future demand/supply situation, to identify problems and make recommendations to resolve them.

The study covered all districts, except Lantau and the Outlying Islands, and all types of vehicles with particular emphasis on goods vehicles and private cars.