Even as fuel prices have fallen drastically over the last few months, Transport Minister Ramalinga Reddy has ruled out cut in bus fares of the Bangalore Metropolitan Transport Corporation (BMTC) and the Karnataka State Road Transport Corporation (KSRTC).
“Yes, diesel prices have fallen in the last few months. But, we will not reduce bus fares of BMTC and KSRTC as both corporations are incurring losses,” he said. Mr. Reddy said a decision on a cut will be considered if there is a further drop in prices. “Diesel prices have come down by nearly Rs. 10 a litre in the last six months. The KSRTC and BMTC have to reduce their losses which amount to Rs. 42 crore and Rs. 61 crore respectively, in 2014-15,” he said.
We will not reduce bus fares of BMTC and KSRTC as both corporations are incurring losses: Ramalinga Reddy
