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The Transport Advisory Committee (TAC) discussed today (April 29) the application for fare increase from The Kowloon Motor Bus Company (1933) Limited (KMB).
TAC Chairman, Mr Larry Kwok, said the TAC, in deliberating on KMB's application, had considered and balanced the relevant factors under the Fare Adjustment Arrangement for franchised buses. These factors include public acceptability and affordability, service performance of the bus company, the past and forecast financial performance of the company, as well as a supportable fare increase rate computed for reference through a formula making reference to changes in the Composite Consumer Price Index and wage index.
"Similar to other fare increase applications, the TAC will submit its recommendation to the Government for consideration by the Chief Executive in Council," Mr Kwok said.
Ends/Tuesday, April 29, 2014
Issued at HKT 13:57
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