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Transport card finances requested
By Zha Minjie |
June 6, 2013, Thursday
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Print Edition
Print Edition
SHANGHAI Public Transportation Card Co has been asked to publicize its finances in response to a request by the city's lawmakers for transparency.
The company issues transport cards, used to pay subway, bus and taxi fares in the city. Each card requires a 20 yuan (US$3.26) deposit.
"How many cards are issued every year? What's the total amount of deposits and what's the interest income?" asked lawmaker Dong Bo.
Dong and 13 other lawmakers called for more transparency.
By the end of last year more than 47 million cards had been issued, said industry supervisor, the Shanghai Transport and Construction Commission.
It said deposits for the cards totaled 665 million yuan and interest income amounted to 42.4 million yuan since 2000.
The lawmakers said the public has a right to know how much money has been raised from the deposits and how it is used.
The deposit is based on the card's cost, which is shouldered by the company, officials said.
The cost of a transport card cost was about 16 yuan in 2011, and rose to more than 17 yuan last year. The cost will climb to more than 20 yuan between this year and 2015 as better technology is being used to make them, officials said.
The commission said it will get the card company to release its finances regularly on its website.
The company issues transport cards, used to pay subway, bus and taxi fares in the city. Each card requires a 20 yuan (US$3.26) deposit.
"How many cards are issued every year? What's the total amount of deposits and what's the interest income?" asked lawmaker Dong Bo.
Dong and 13 other lawmakers called for more transparency.
By the end of last year more than 47 million cards had been issued, said industry supervisor, the Shanghai Transport and Construction Commission.
It said deposits for the cards totaled 665 million yuan and interest income amounted to 42.4 million yuan since 2000.
The lawmakers said the public has a right to know how much money has been raised from the deposits and how it is used.
The deposit is based on the card's cost, which is shouldered by the company, officials said.
The cost of a transport card cost was about 16 yuan in 2011, and rose to more than 17 yuan last year. The cost will climb to more than 20 yuan between this year and 2015 as better technology is being used to make them, officials said.
The commission said it will get the card company to release its finances regularly on its website.
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