4 July 2001
Fare Review
 
The Managing Board of the Kowloon-Canton Railway Corporation has decided to defer the introduction of the fare increase (by an overall weighted average of 3.1%) from 1 September 2001 to 1 April 2002. The increase will apply to all fares on East Rail, Light Rail and feeder bus services.
The Managing Board’s unanimous decision to increase fares was taken only after very careful consideration, having regard to many relevant factors, including the current economic situation, public reaction and the future financial commitments of the Corporation. These commitments exceed $12.5 billion in terms of capital investments spread over the four years 2001 to 2004.
The Managing Board was conscious of the fact that, while the Corporation is charged with operating under prudent commercial principles and has autonomy to decide fares, its interests must coincide where possible with those of the travelling public it serves. In the light of the views expressed by all sectors of the community during the recent consultation exercise, the Managing Board decided to defer the introduction of the fare increase by seven months from 1 September 2001 to 1 April 2002.