A bus fare increase looming this month as private bus operators demand compensation for the sharp jump in operating costs. To keep private busses in the roads, the National Transport Commission wants a bus fare increase in June, instead of the due date in July.
"Usually the price revision falls in July, but because of so many cost increases we have already requested the Minister for permission to adjust prices," said a senior official from the National Transport Commission (NTC).
Private buses – around 17,500 - transport over 80 percent of mass road traffic in Sri Lanka and almost all of these private busses are on lease.
The NTC estimates that the cost of keeping a bus on the road is up by around 13 percent since July last year.
Diesel prices alone are up by Rs 8.
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00, translating to a seven percent increase in running costs.
Other cost increases like, leasing costs, lending rate increases, spare parts costs, import costs and the US dollar increase added another six percent t