The new financial budget will be announced on Feb. 26. Financial Secretary Paul Chan has indicated that the authorities are reviewing adjustments to the "$2 Scheme" policy.
Some parties have suggested implementing a tiered bus fare system and lowering the eligibility age for half-price fares to 60 years or older.
Today (Feb. 13), KMB stated that the $2 Scheme is a welfare policy rather than a subsidy for the bus company. They noted that since the introduction of the $2 Scheme for seniors aged 60 to 64, the number of passengers under 65 has decreased by 12% compared to 2018. KMB believes that lowering the age for half-price fares would complicate their operating environment and significantly increase company expenses.
Regarding potential fare increases in the future, KMB mentioned that this would depend on operational factors, and they would propose changes as necessary. Currently, 60-70% of KMB's costs are related to salary expenses, and fuel prices also impact overall costs. Last year, KMB increased revenue by reallocating resources based on service demand through route integration, aiming to manage increased demand with existing resources.
As for adjustments to employee salaries this year, KMB has yet to discuss this matter. They will consider the situation of civil service salary adjustments and factors related to talent retention before making a decision.
To accommodate the growing number of passengers, KMB plans to introduce 10 open-top buses this year, with the first set to launch in April. The routes will reference the HK1 sightseeing route, passing through key areas like Nathan Road and Tsim Sha Tsui. Additionally, KMB will expand the sales channels for tourist day passes.
In terms of non-fare revenue, including advertising on buses and their app, this income has remained stable. KMB plans to expand by providing electric vehicle charging services at their depots, with an initial pilot program expected to launch in the second quarter of this year.
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