The decision to increase rail fares has received the approval of the Cabinet of Ministers.
Minister of Transport Dilum Amunugama said rail fares will be amended with effect from the 1st of April.
The Minister said the General Manager of Railways has been advised to compile a report pertaining to amending bus fares.
Minister Amunugama noted the prices have not been revised for a lengthy period of time and that the Railway Department is facing difficulties to even pay for the fuel obtained from the Ceylon Petroleum Corporation.
The Minister noted that the Department incurs a loss of Rs. 4 billion annually and therefore a price revision is essential.
He said at present, a third-class ticket holder pays only about Rs.1.30 for the first 10km and it will be increased to Rs.2. Minister of Transport Dilum Amunugama noted that it is futile to run at a loss, since the public will eventually have to repay through taxes to cover the costs.
The Minister said therefore the revised rail fares will come into force later this week.