Karnataka State Road Transport Corporation (KSRTC) Chairman SR Srinivas has said that a bus fare hike is unavoidable due to rising oil prices. He explained that it has been five years since the last fare increase in 2019, and current economic conditions necessitate an adjustment to cover operational costs and support employee benefits.
“The last bus ticket price increase was in 2019. It has been five years since then without any increase. Due to the rise in oil prices, a fare hike is inevitable. To increase salaries and provide benefits to employees, adjusting the rates is necessary,” Srinivas said.
He noted that while salary revisions for KSRTC employees were done in 2020, the next revision is scheduled for 2024.
“This delay in fare adjustments has contributed to our financial challenges. If it was increased from time to time, it would not have been like this. KSRTC has incurred a loss of Rs 295 crore in the last three months,” he added.
Srinivas also mentioned that a proposal for 40 new Volvo buses has been submitted to the government. “We have already procured 600 regular buses. We have proposed a fare increase of 5 to 20 percent. The final decision on the rate hike will be up to the Chief Minister,” he said.
He clarified that the fare increase will not disproportionately affect male passengers.
“The ticket price for female passengers will also be raised, but this increase will be covered under the Shakti scheme. For KSRTC to continue operating effectively, a fare hike is necessary. The price of diesel has risen from Rs 60 in 2019 to current levels, and expenses are increasing across various areas, including staff salaries, administrative costs, and new services,” he explained.
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First Published: Jul 15 2024 | 7:46 AM IST
