Srilanka, May 1 -- Even though the price of diesel has decreased by Rs. 12, there will be no revision of bus fares, Lanka Private Bus Owners' Association (LPBOA) Chairman Gemunu Wijeratne said.

Addressing the media, he explained that it is not possible to reduce bus fares at this time, and the public must understand that a price formula has been in place for 20 years.

"We have not acted against the price formula. Therefore, no one should expect us to reduce fares just because diesel prices have dropped by Rs. 12. According to the percentage calculations we follow, the required threshold of a 4% change has not been met. This matter can be considered during the annual bus fare revision scheduled for July. There is no legal provision to r...