Mukti KC, Director, Department of Transport Management, said his office would come up with new rates after studying the components contributing to transport fares. “We will calculate changes in fuel and non-fuel components to determine new fares,” said KC. Non-fuel components include bank interest rate, inflation, vehicle price, cost of spare parts, lubricants and staff salary. The government had hiked transport fares in March last year by nine per cent.
After transport fare mechanism was implemented in 2009, the government has been calculating fares by taking into account fuel factor (35 per cent) and non-fuel factor (65 per cent). Transporters are expecting that the fares could go up by 10 to 15 per cent on the basis of fuel price hike by more than Rs 6 per litre in the last one year.
“We will hold discussions with the DoTM within a week to decide new fares,” said Yogendra Karmacharya, president of the Federation of Nepalese National Transport Entrepreneurs.
When the government increased transport fare last time, diesel price stood at Rs 99 per litre. Diesel price in the last one year has been hiked twice — by Rs 4 a litre and Rs 2.5 a litre. The government and transport entrepreneurs a few years ago had reached an understanding that transport fares would be revised if fuel prices were increased by more than Rs 5 a litre. Last week the government hiked the prices of diesel and kerosene by Rs 2.5 per litre and petrol by Rs 4.5 per litre.
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