Following the outbreak of hostilities in the Middle East, fuel prices have risen sharply, plunging the transport industry into severe operational difficulties and affecting people's livelihoods. The government's Inter-departmental Task Force on Monitoring Fuel Supply has recommended four temporary measures in response, including a subsidy of HK$3 per litre of diesel and a 50% reduction in tunnel tolls for all commercial vehicles. The proposed subsidy measures require funding approval from the Legislative Council's Finance Committee, which will hold a meeting today (April 10) from 2 pm to 4 pm to consider an urgent funding proposal for the time-limited diesel subsidy.
The Vice Chairman of the Hong Kong Guangdong Boundary Crossing Bus Association and Co-General Manager of Shum Kong Wing Lee, said that since the Middle East conflict began, diesel prices in Hong Kong and the mainland have risen by 30% and 20% respectively, placing a heavy burden on fuel-intensive industries. He expressed pleasant surprise at the measures. "Fuel accounts for nearly 30% of operating costs. Raising prices would be fatal, and not raising prices would also be fatal. The measures effectively ease the operating burden – it's a good thing, and at least they give us a vote of confidence." He noted that commercial vehicle companies currently have "fleet fuel prices" with oil companies, and urged the government to ensure that end-users actually receive the HK$3 subsidy. He had earlier revealed that his company had considered raising fares by 5% to 10% to maintain basic operations. However, the subsidy does not fully cover the cost increase, and the company will need to see how the measures are implemented before deciding whether to raise fares.
A tour bus driver, Mr. Yau, said his company already collects tunnel tolls from passengers, so he believes the toll reduction measure will ease the burden on passengers. As for fuel prices, he said that although as an employee he does not bear the profit and loss himself, he still thinks diesel is "outrageously expensive" and believes the subsidy will benefit his company.
Related News:
HA says contractors illegally obtain data without authorization: Privacy can't be outsourced
Comment