From Our Special Correspondent
Daijiworld Media Network

Bengaluru, Aug 27: Despite the sharp reduction in the fuel prices over the last few months due to the fall in the global crude prices, Karnataka’s Transport Minister B Ramalinga Reddy ruled out any slashing of bus fares in the Karnataka State Road Transport Corporation (KSRTC), Bengaluru Metropolitan Transport Corporation (BMTC) and other State Road Transport undertakings in the State.

Speaking to reporters in Bengaluru on Thursday, the minister said: “Yes, diesel prices have fallen in the last few months. But we will not reduce prices of bus fares of BMTC and KSRTC as they are incurring losses.’’

A decision on cutting bus fares would be considered if there was a further cut in fuel prices.

Diesel prices have come down by nearly Rs 10 in the last six months.

“But we need to maintain the operational costs. The salary, repairs and maintenance and replacement of parts and vehicles involve big investments,’’ he said pointing out that fuel prices were just one component.

He said the KSRTC and BMTC have to reduce their losses.

However, losses were still considerable with KSRTC and BMTC incurred loses of Rs 42 crore and Rs 61 crore, respectively, during the last financial year (2014-15), he said.

Reddy said no new air-conditioned buses would be purchased during the next two years. All transport corporations have sufficient number of AC buses.