Responsibility for reviewing and approving rail mergers now falls to that panel.
Both projects now belongs to MTR after the 2007 rail merger.
Following the rail merger, the government took over responsibility for the project.
From corporatisation in December 1982 until the rail merger 25 years later, corporate governance issues periodically troubled the corporation.
"The problems in recent rail mergers have been ones of execution, not of design," he said in an interview conducted by e-mail.
The line is quite well known in the city for its high fare, even after the rail merger.
The last few big rail mergers caused major service disruptions that cost manufacturers and shippers millions of dollars in lost business.
Announced in August, it would be the biggest rail merger in United States history.
No other rail merger has been rejected in 20 years.
The Transportation Department also acquires the power to approve or disapprove rail mergers.
