Sri Lanka, May 1 -- Bus fares will not be revised despite the reduction in the price of a litre of auto diesel by Rs. 12 yesterday, Chairman of the Lanka Private Bus Association Gemunu Wijeratne has announced.

Expressing his views while addressing a media briefing in Colombo, Gemunu Wijeratne claimed that there is no possibility of reducing bus fares at this juncture.

He said, "The public should understand that the price formula has been in place for 20 years. We have not acted contrary to that. Therefore, no one should expect us to reduce fares by Rs. 12 at this time. There is no possibility of reducing it like that. In our current percentage calculation, we have not reached the 4% mark."

Wijeratne said a consideration of a bus fare r...