Taiwan Rail Administration to consider hiking fares as losses set to rise in 2021

Legislative Yuan budget report lists adapting fares as one possibility to resolve TRA losses

Taiwan's new trains built by Hyundai Rotem

Taiwan's new trains built by Hyundai Rotem (CNA photo)

TAIPEI (Taiwan News) — The Taiwan Railways Administration (TRA) will consider increasing fares as losses are expected to balloon to NT$3.24 billion (US$113 million) next year an increase of 17.54 percent, reports said Thursday (Oct. 22).

According to a report presented to the Legislative Yuan, the TRA's budget for 2021 is expected to be approximately NT$33.6 billion, while profits should reach NT$30.3 billion, CNA reported. The projections mean that losses will rise from the NT$2.75 billion listed for 2020 to NT$3.24 billion next year, officials said.

Possible solutions to stem growing losses include a study to examine the possibility of adapting fair ticket prices, changes to the subsidy system for less frequented stations and railway lines, as well as cost-cutting measures, improving quality of facilities, and introducing more sustainable management.

The yearly losses were due to a variety of reasons, including retirement payments, the management of small stations, and natural disasters, TRA told lawmakers.

Updated : 2020-12-01 00:55 GMT+08:00