Feb 13, 2012 (LBO) – Sri Lanka’s bus fares will be raised by 20 percent and striking buses will return to the streets from Tuesday, Gemunu Wijeratne, head of the Sri Lanka Private Bus Operators’ Association said. The new fares will be in effect for at least a year unless fuel prices are raised by over 4 percent, he said.
Wijeratne said private buses have agreed to forego a planned tariff hike in July.
The state had earlier offered a subsidy based on a complex calculation of estimated daily running miles of buses. The subsidy would not be given.
Sri Lanka on Saturday raised diesel prices by 36 percent to 115 rupees a litre and petrol which costs less to import by 8.75 percent to 149 rupees.
Sri Lanka’s rulers price petrol higher though it is a cheaper fuel than both diesel and petrol.
Power tariffs are also likely to go up.