MRT fares slashed in attempt to increase ridership

The Taipei City Government has reduced fares on the MRT, the Chinese-language media reported yesterday.

According to the reports, ticket prices will range from NT$20 to NT$65, with the most expensive tickets -- on both the Mucha Line and Chungho Line -- being reduced by NT$5.

The chairman of the Taipei Rapid Transit Corporation, Lee Po-wen (李博文), said that the price adjustment will take effect on Nov. 30. He said the new prices will increase daily usage from around 300,000 people to 671,000 people.

The corporation has also offered to subsidize taxi and bus operations to the tune of NT$370 million because of the effect reduced MRT prices will have on their business.

This subsidy will be used to establish 50 lines of shuttle buses and to set up taxi stations near MRT stations.

The corporation said that the ticket price reduction will result in a drop in profits of around NT$91 million a year.