TD's statement on fare increase application

In response to media enquiries, a spokesman for the Transport Department confirmed today (November 1) that the department had received a fare increase application from New World First Bus (NWFB).

"We will examine the application carefully taking into account all relevant factors, including the company's financial position, forecasts of future costs and revenue, service performance and public acceptability of the proposed fare increase, etc," the spokesman said.

He added that it was the Administration's intention to use the Modified Basket of Factors (MBOF) approach to process new applications for bus fare increases.

End/Wednesday, November 1, 2000