Even as fuel prices have fallen drastically over the last few months, Transport Minister Ramalinga Reddy ruled out cut in the fares of Bangalore Metropolitan Transport Corporation (BMTC) and Karnataka State Transportation Corporation (KSRTC).
“Yes, diesel prices have fallen in the last few months. But we will not reduce the fares of BMTC and KSRTC as both corporations are incurring losses,” he said.
Mr. Reddy said a decision on cutting fares would be considered if there was further cut in fuel prices. Diesel prices have come down by nearly Rs. 10 in the last six months.
KSRTC and BMTC have to reduce their losses which are still considerable. They face a loss of Rs. 42 crore and Rs. 61 crore respectively, he said.
Mr. Reddy said no new air-conditioned buses would be purchased during the next two years. All transport corporations have sufficient number of AC buses.
