Taiwan Railway Corp (TRC) is to develop a new pricing scheme that would differ from ones reported by the media previously, to be announced in the second half of the year, Deputy Minister of Transportation and Communications Allen Hu (胡湘麟) said on Monday.
Train fares have remained the same for 29 years, with many local routes now cheaper than taking the bus or MRT.
Under a pricing formula approved by the legislature, the railway may earn a 3 to 5 percent rate of return on ticket prices.
Photo: Taipei Times
An expert committee earlier determined that to achieve a 3 percent rate of return, prices would need to rise by up to 40 percent.
Late last year, the then-Taiwan Railways Administration said it was eyeing a 1 percent rate of return after corporatization, which would increase fares between 11 and 27 percent.
On Monday, TRC and transport ministry officials were asked to present updated plans for the pricing changes at a meeting of the legislature’s Transportation Committee.
The railway has put forward a number of proposals, but none have fully taken into consideration changes in operational conditions, the external economic environment, and supply and demand, Hu told reporters before the meeting.
The TRC therefore plans to hold another meeting to determine a new pricing scheme, he said, adding that it would differ from previous proposals reported in the media.
Currently, the fare rate for each passenger is calculated on a per-kilometer basis. The local train rate is NT$1.46 per kilometer, while the Chu-Kuang Express rate is NT$1.75 per kilometer and the Tze-Chiang Express rate is NT$2.27 per kilometer.
Considering efforts to revive tourism following the April 3 earthquake, legislators during the meeting passed a motion to freeze train ticket prices to the east coast.
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