Hong Kong provides diesel subsidies and toll waivers
Hong Kong is providing HK$1.8 billion in diesel subsidies and toll waivers for commercial transport. The measures aim to mitigate the impact of rising fuel costs.
The government of Hong Kong has introduced new measures to support the local transport sector as it grapples with rising fuel costs. The relief package includes a HK$3 per litre subsidy on diesel for commercial vehicles and vessels, alongside a 50% toll discount for commercial traffic at government-managed tunnels. These temporary measures are expected to span two months and carry an estimated cost of HK$1.8 billion.
Calculated against the USD/HKD exchange rate, the total fiscal impact reaches approximately $230 million. While commercial operators benefit, the government confirmed that private cars and motorcycles are excluded from the toll reductions, a move that is anticipated to result in HK$160 million in lost revenue.
