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No bus fare hike - NTC

7 February 2011 11:06 am - 11     - {{hitsCtrl.values.hits}}

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The National Transport Commission (NTC) said today that bus fares will not be raised in the near future despite a fuel price hike by the Lanka Indian Oil Company (LIOC) recently.

NTC Chairman, Sashi Welgama said however that bus fares may have to be reviewed if the Ceylon Petroleum Corporation (CPC) increases its fuel prices as well. Yet he said until that happens no decision can be made on any amendments to the existing bus fares.

“If there is an increase in fuel prices by the CPC we will have to consider by how much bus fares will be increased. However for the time being there will be no increase whatsoever,” Welgama said.

Bus fares are usually reviewed during the months of June and July each year according to a formula that has13 variables which includes the purchase price of a bus, fuel prices, lubricant prices, EPF/ETF, bank or leasing company interest rates and other factors and bus fares are raised accordingly.

Welgama said that it is difficult to determine as to whether bus fares will have to be reviewed in the immediate future or in June. The process of calculating the formula is conducted by a committee that comprises of the NTC, private bus associations, the treasury and the Ministry of Transport. (Olindhi Jayasundere)

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  Comments - 11

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  • Roshan Tuesday, 08 February 2011 03:44 AM

    100% Agreed !!!

    Mr Retort Tuesday, 08 February 2011 04:03 AM

    We can see the sluice gate of price escalation after the election on our way to SUBA ANAGATHE

    R.Dias Monday, 07 February 2011 11:14 AM

    AT LEAST THEY FEEL FOR THE SUFFERING OF THE MASSES

    Calistus Jayatilleke Monday, 07 February 2011 11:52 AM

    Its only a matter of time until CPC decides to increase the price - which will inevitably happen after the Local Government elections.

    citizen1 Tuesday, 08 February 2011 05:18 AM

    Don't tell me people are going to fall for these stunts AGAIN?!

    I Hussein Tuesday, 08 February 2011 05:29 AM

    Waht a torture. Every fortnight we hear this same jargon. increase increase increase. Is this happening anywhere else in the world to this extent.

    backstreet boy Monday, 07 February 2011 12:56 PM

    wow the ''13'' variables, how interesting :) he forgot to include the costs per minister.

    Calm Monday, 07 February 2011 03:07 PM

    The 'near future' meant by the NTC Chairman will arrive soon after the LG polls!!

    Antonan Tuesday, 08 February 2011 11:48 PM

    No. But this is the " Miracle of Asia"

    wins Tuesday, 08 February 2011 02:15 AM

    WAIT TILL THE LOCAL POLLS ARE OVER!!!!!!!!

    meranchi Tuesday, 08 February 2011 03:12 AM

    public transport user must be very happy .....


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