Bangalore, Jun 26 (DHNS): The Karnataka State Road Transport Corporation (KSRTC) and the Bangalore Metropolitan Transport Corporation (BMTC) hiked their fares by 3.5 per cent and 8.5 per cent, respectively, with effect from midnight Friday/Saturday morning.
Citing the hike effected in the prices of diesel and petrol by the Centre earlier in the day, Minister for Transport R Ashoka said the corporations were not in a position to absorb any more hike in diesel prices.
“The BMTC alone has incurred a loss of Rs 18 crore in the last three months, while the total loss incurred by the KSRTC, the North East Karnataka Road Transport Corporation (NEKRTC) and North West Karnataka Road Transport Corporation (NWKRTC) amounted to Rs 170 crore this fiscal,” he said.
The NEKRTC and the NWKRTC have also effected a hike of 3.5 percent in their fares.