Taiwan Railway Corp (TRC) is set to raise ticket prices for the first time in 30 years in late June, the acting chairman of the state-owned company said yesterday.
At a meeting of the legislature’s Transportation Committee meeting, TRC acting chairman Wu Sheng-yuan (伍勝園) confirmed the average fare increase of 26.8 percent has been reviewed by the Executive Yuan and would take effect on June 23, although the company has not yet formally announced the new prices.
The corporation is required to announce the fare changes at least one month before they take effect.
Photo courtesy of Taiwan Railway Corp
According to data previously released by TRC, the rate of the increase would taper off with distance traveled, meaning long-distance trips would see relatively smaller fare hikes.
For example, the fare for a Tze-Chiang express train from Taipei to Kaohsiung is to increase from NT$824 to NT$975 (US$24.93 to US$29.50) — an 18.33 percent rise — while a ticket on the same train between Taipei to Taichung will rise 33.6 percent from NT$375 to NT$501.
Passengers enrolled in the TPASS program would not see any changes to pricing and would continue to enjoy unlimited rides, the Ministry of Transportation and Communications said.
Wu said that while those who take short-distance train rides would be the most affected, those people mostly use TPASS and therefore their fares would not increase.
In addition, the fare from Taipei to New Taipei City’s Banciao District (板橋) would only increase by NT$7, still leaving it cheaper than the MRT or public buses, he said.
The fare adjustment was approved by the company’s board of directors in early February in a bid to reduce the company’s losses.
The firm last year recorded a deficit of NT$13.79 billion, including about NT$10.1 billion from railway operations.
The new fares are expected to boost the company’s annual revenue by more than NT$4 billion.
Meanwhile, high-speed rail fares are to remain the same as traffic volumes and revenue are continuing to increase, Wu said.
Two years after new stock is purchased and costs increase would be a more appropriate time to discuss pricing adjustments for the high-speed rail, he said.
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