Auto News
No bus fare hike - NTC
.jpg)
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.
Sourse: http://www.dailymirror.lk/news/9627-no-bus-fare-hike-ntc-.html
Posted on Tuesday, February 08, 2011 @ 02:05:56 LKT
>> Back to News
