Daijiworld Media Network - Bengaluru

Bengaluru, Nov 4: Just days after increasing milk and curd prices, the state government is set to hike bus fares of state-run transport corporations from November 5. Transport minister Byrathi Suresh has confirmed that the fare revision will be implemented, adding that the exact extent of the hike will be finalised after a meeting scheduled for Wednesday.

Suresh said the issue of fare revision was discussed at the recent state Cabinet meeting, where the responsibility of taking the final decision was entrusted to chief minister D K Shivakumar and the Transport Department.

The Transport Department will hold a meeting with officials of all four state transport corporations tomorrow to finalise the revised fare structure. The new fares will come into effect from the following day.

The minister said the fare hike had become inevitable due to rising operational costs and the financial difficulties faced by the transport sector.

He stated that the Centre had increased diesel prices four times, imposing an additional annual burden of Rs 2,000 crore on the state's four transport corporations. As a result, the combined losses of the corporations have reached Rs 9,000 crore, he said.

"We have no other option but to increase fares. A fare revision is essential to financially revive the transport corporations," Suresh said.