90% of private buses have withdrawn from service, stating they cannot operate at a loss.

The Lanka Private Bus Owners' Association states that approximately 90% of private buses in the country have withdrawn from operations today (22) due to the failure to implement a bus fare revision concurrently with the massive fuel price hike that came into effect yesterday (21).

Mr. Gemunu Wijeratne, the president of the association, points out that yesterday's fuel price increase was the highest percentage price hike recorded in the country's history. Bus owners have informed the association that engaging in passenger transport under the current old ticket fares, amidst these new fuel prices and high costs, will result in a severe loss for the bus industry.

The president stated that owners have officially informed him that they will not operate their buses today due to this crisis. Accordingly, he further emphasized that they expect to resume bus operations only if a swift new bus fare revision, commensurate with the increased fuel prices, is implemented.