ECONOMYNEXT - Sri Lanka's regulated privately owned bus service has declined 2.0 percent to 19,917 in the first half of 2017 from a year earlier, while operated kilometres also shrank due to floods, an official report said.
Sri Lanka's privately owned buses are tightly regulated through a route licensing system, which has straight-jacketed a large number of individual bus owners, preventing consolidation and innovation.
As a result, the free market three wheeler sector, where competition and innovation is taking place, has expanded rapidly serving the people in multiple ways.
Meanwhile Transport Minister Nimal Siripala de Silva has brought regulations to control the three wheeler taxi sector, including petty ones such as
Operated kilometres of private buses had fallen 3.6 percent 523.1 million kilometres in the first six months of the year while passenger kilometres fell 3.5 percent to 26,345.5 million kilometres. (Colombo/Dec15/2017)