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LegCo Finance Committee Approves HKD1.8B 2-mth Diesel Subsidy
2026-04-10 16:21:30 The Finance Committee of Legislative Council convened a special meeting today (10th) and approved the government's funding application of HKD1.8 billion for a two-month diesel subsidy scheme. The relief measures include a subsidy of HKD3/ litre of diesel to support public or commercial vehicles, vessels and related industries using diesel as fuel, with estimated expenditure of approximately HKD1.8 billion. In addition, government tunnel tolls for commercial vehicles will be axed by 50%, resulting in an estimated revenue reduction of about HKD160 million. Both measures will remain in effect for two months. The government stated that it is finalizing implementation details with fuel companies. Subject to approval by the Finance Committee, it will strive to launch the subsidy before the end of April, with the Environment Bureau to separately announce the operational arrangements of the subsidy. ~ AASTOCKS Financial News Website: www.aastocks.com | |