The MTR Corporation has agreed to advance by one year the joint review with the Government on its fare adjustment mechanism.
The Government today welcomed the MTRC's decision and said it will start discussions with the corporation soon to implement the new mechanism next year.
The review is to make the mechanism respond better to public concerns on the corporation's profitability and passenger affordability, while respecting the financial prudence required of it as a listed company.
According to the Operating Agreement between the Government and the MTRC the two parties can review the fare adjustment mechanism every five years. The last review was in 2013. The next review is due in 2018.
