Taipei: Taipei Rapid Transit Corp. (TRTC), the operator of Taipei Metro, has announced that while ticket fares will remain unchanged, they plan to reduce the cashback rate for frequent passengers starting next year. The NT$1,200 (US$36.97) monthly TPasses will not be affected by this change, as stated by the company.According to Focus Taiwan, TRTC highlighted that increases in electricity rates, salaries, and basic wages could lead to a financial deficit by 2025, potentially impacting the quality and safety of transit services over time. To address these concerns, a board meeting resulted in the decision to lower cashback rates for frequent passengers from 10-30 percent to 5-15 percent. This adjustment is expected to take effect in the first half of 2025, pending approval from the Taipei City government.The policy change is anticipated to affect approximately 300,000 passengers. TRTC has faced financial challenges with its core transportation business experiencing losses for several years. In response, th e company has worked to develop additional revenue streams to support its transportation operations.TRTC also disclosed that it faces a significant financial obligation of about NT$130 billion for metro system operations over the next 30 years, requiring an annual allocation of approximately NT$4-5 billion. The financial strain was exacerbated by deferring a NT$5 billion rental payment during the COVID-19 pandemic.Since the metro's inception in 1996, ticket fares have remained stable despite a 34 percent rise in the consumer price index and a 51.2 percent increase in salaries within the transportation and storage sector, according to the company.