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| Wednesday, 18 August 2004 |
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A nine per cent increase in private bus fares will be effected from August 23. Transport Ministry sources told the Daily News that according to calculations based on the National Private Bus Fare Policy there was an 8.8 per cent cost increase compared with the previous year. According to the policy, only a cost increase above eight per cent warrants an increase of fares. The fare hike comes in the wake of the recent increase in diesel prices. It is also believed that the minimum Rs 3 fare would also be increased as diesel prices have gone up by Rs 14 since the minimum fare was last raised. Fares ending in 50 cents (such as Rs. 4.50) are also likely to be avoided in this year's fare hike owing to commuter complaints that conductors do not return the balance 50 cents in any case. "Private bus operators agreed to this increase rate following discussions with the Minister and National Transport Commission (NTC) officials on Monday and the fare hike will be officially announced on Friday once approved by the Cabinet," sources said. |
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