Hong Kong to launch liquefied petroleum gas subsidy to support transport sector

Hong Kong announces two-month LPG subsidy for taxis, minibuses and school buses starting May amid soaring fuel costs; diesel subsidy begins Thursday. | Contesto: cronaca

Punti chiave

• Hong Kong to launch liquefied petroleum gas subsidy to support transport sector

Contesto

Hong Kong will launch a two-month subsidy for liquefied petroleum gas (LPG) used by taxis, minibuses and school buses beginning in May, as the city grapples with surging fuel prices that have squeezed the transport sector. Financial Secretary Paul Chan Mo-po confirmed on Wednesday that an interdepartmental task force monitoring fuel price movements had proposed a subsidy of 50 Hong Kong cents per litre for LPG, effective for two months starting next month. The measure aims to alleviate operational pressure on drivers of these public service vehicles, many of whom have reported mounting costs amid global energy market volatility. The announcement comes alongside the activation of a previously announced diesel subsidy, which will take effect on Thursday. Together, the two subsidies represent the government's latest effort to cushion the transport industry from the ripple effects of rising international fuel prices, driven by geopolitical tensions and supply chain disruptions. Chan noted that the task force continues to assess market conditions and may recommend further relief if necessary. Industry representatives have welcomed the LPG subsidy, though some caution that the two-month window may be insufficient if fuel prices remain elevated. Taxi and minibus operators, in particular, have been vocal about the strain on their livelihoods, as fuel constitutes a significant portion of their operating expenses. The subsidy is expected to benefit thousands of vehicles across the city, providing modest but immediate relief. The diesel subsidy, meanwhile, targets goods vehicles and other diesel-powered transport, further broadening the scope of government intervention. Both measures reflect a targeted approach rather than a blanket fuel subsidy, focusing on sectors deemed most vulnerable to price shocks. Analysts suggest that while the subsidies will help in the short term, longer-term solutions such as promoting electric vehicles or improving fuel efficiency may be needed to reduce dependency on imported fuels. Looking ahead, the effectiveness of the subsidies will depend on whether global fuel prices stabilize or continue to climb. The task force has signaled it will...

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Categoria: cronaca