Bengaluru, July 12, 2018: The KSRTC has proposed to hike bus fares by 20% citing rising diesel prices, Transport Minister D C Thammanna said on Wednesday.
The finances of other transport corporations have also been hit. Being bulk buyers, the corporations get a discount of about Rs 3 per litre of diesel. But in the past four months, the price has gone up from Rs 56.91 to Rs 64.21, pushing the corporations to look for ways to rationalise the fares.
The minister said the government hadn’t yet taken a decision on the proposal but was planning of ways to help the corporations sail through the rough patch. The Bangalore Metropolitan Transport Corporation (BMTC), with cumulative losses of Rs 608 crore, is likely to suffer the most. “The BMTC owns large tracts of vacant land in Bengaluru. We are planning to build commercial complexes to generate revenue for the organisation.
The government will also decide on waiving the motor vehicle tax (about Rs 120 crore) for city buses as done last year,” he added.
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