Bus fares hike likely in January?
December 14, 2023 10:12 am
The Lanka Private Bus Owners’ Association (LPBOA) says that a revision in bus fares is possible in January, owing to the increase of Value Added Tax (VAT).
President of the association Gemunu Wijeratne stated that measures will be taken to discuss the matter with President Ranil Wickremesinghe in the coming days.
“When importing buses from January, an average bus will cost around Rs. 15,700,000. With the increase in VAT to 18%, the cost of importing a bus will increase by at least another Rs. 2 million. The bus owners are not able to buy a bus at that rate and transport the public”, Wijeratne stressed.
Further, he said that “along with that, the prices of spare parts, fuel and service charges will also increase. The most serious issue is the increase in fuel prices. VAT has been imposed on fuel too. Then surely the price of diesel will increase.”
“If all these prices increase, there is a possibility for bus fares to increase once again too. I hope to discuss this matter with the President and Finance Ministry officials soon”, he added.
