Bus fares would not be revised as announced earlier following the reduction of the price of diesel by Rs. 10 yesterday, the Lanka Private Bus Owners' Association (LPBOA) said today.
Addressing media, LPBOA Chairman Gemunu Wijeratne said the provisions of the National Policy on bus fares were only applicable if the diesel price was increased by a 4 percent difference according to the fuel price formula.
According to the National Policy, only a 1.1 percent price revision would be possible to apply to the bus fare.
He said the private bus industry was in turmoil and has come to a situation where they couldn’t continue with the service.
“As a result, we have decided to restrict bus operations, as well as on special holidays and on Poyadays,” he said. (Chaturanga Pradeep Samarawickrama)
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