The Lanka Private Bus Owners Association says the increase in the Value Added Tax or VAT will adversely affect the bus industry.
President of the Association Gemunu Wijeratne speaking to media today said bus fares could increase further in the future.
Wijeratne warned that bus operators will be compelled to withdraw from services on Monday if solutions are not provided to their grievances.
He said the VAT directly affects the industry adding the VAT applies to all goods and services.
Wijeratne charged that the VAT imposed on businessmen leads to businessmen imposing the brunt of the tax on consumers.
He urged the government to refrain from increasing taxes as it directly reflects on the public.
He noted that discussions are underway to determine if bus fares should be increased further.