Minimum bus fare could increase to Rs. 40 due to rupee depreciation: Gemunu

Colombo, May 20 (Daily Mirror) - The minimum bus fare could increase to Rs. 40 following the upcoming annual revision in July, as further weakening of the Sri Lankan Rupee against the US Dollar may push up transport costs, Lanka Private Bus Owners’ Association (LPBOA) Chairman Gemunu Wijeratne has warned.

Speaking to the media, Wijeratne said the annual bus fare revision is based on 12 key criteria, including the Colombo Consumer Price Index, the US Dollar exchange rate, interest rates, and the price of buses.

He said that continued currency depreciation could directly influence fare adjustments, adding that the situation is becoming critical for both bus operators and passengers.