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Thursday July 18th, 2024

Sri Lanka mulls hi-tech circulator buses without conductor: Minister

ECONOMYNEXT – Sri Lanka is in discussions with a private technology group to set up a circulator route in the city using modern buses without a conductor in  bid to upgrade public transport, Transport Minister Bandula Gunawardana said.

“We are in discussions with a technology group in the Trace City to start a modern city bus service,” Minister Gunawardana told EconomyNext.

“The buses will only have a driver. But the current laws do not allow public buses to be operated without a conductor. Se we have to change the law.”

Circulator buses typically operate on both directions on a circular route, they have simplified charging. Two routes may cross each other, somewhat similar to the way MRT systems work.

Sri Lanka has a tightly regulated public bus service with a bewildering array of routes. State regulations typically stifle innovation. Due to tight regulations including price regulation, Sri Lanka’s three wheeler taxis have boomed.

Until a recent currency collapse, the worst in the history of the island’s intermediate regime central bank, which has destroyed living standards of the people more than in previous crises, buses were losing customers to three wheeler taxi’s and private transport, mostly motor-cycles.

Quality of public buses is low – except on expressways – due to regulated pricing and a rigid licensing system, critics say.

Three wheeler taxis on the other hand have rapidly innovated into ride sharing. (Colombo/Oct27/2022)

Comments (5)

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  1. sacre blieu says:

    Queer way of pricing for public transport and travel. The bus fares for the same distance are phenomenal compared to the train travel charges. Does it mean that the railway has not charged enough or the transport cost should be reduced? More so the trains cannot handle such a huge crowd during peak hours and passengers hanging onto the footboards or on the roof are exposed to severe danger.

  2. Kumar says:

    This guy is bluffing again. Sri Lanka doesn’t have the infrastructure for projects of that nature. Some idiots cancelled the first elevated trolley system and now blowing hot air.

  3. puvan NAGALINGAM says:

    The problem is overcrowding in buses like sardines.

  4. veddah says:

    Another gimmick. in England, it was necessary because the population was going down and there were fewer people willing to become conductors. The strikes in England at the moment are because of safety concerns about reducing the number of conductors even more

  5. Cassim Zarook says:

    Wild dreams, with the post and position changing.
    This is possible when a family can live with Rs. 2500/- a month.

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Comments (5)

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Your email address will not be published. Required fields are marked *

  1. sacre blieu says:

    Queer way of pricing for public transport and travel. The bus fares for the same distance are phenomenal compared to the train travel charges. Does it mean that the railway has not charged enough or the transport cost should be reduced? More so the trains cannot handle such a huge crowd during peak hours and passengers hanging onto the footboards or on the roof are exposed to severe danger.

  2. Kumar says:

    This guy is bluffing again. Sri Lanka doesn’t have the infrastructure for projects of that nature. Some idiots cancelled the first elevated trolley system and now blowing hot air.

  3. puvan NAGALINGAM says:

    The problem is overcrowding in buses like sardines.

  4. veddah says:

    Another gimmick. in England, it was necessary because the population was going down and there were fewer people willing to become conductors. The strikes in England at the moment are because of safety concerns about reducing the number of conductors even more

  5. Cassim Zarook says:

    Wild dreams, with the post and position changing.
    This is possible when a family can live with Rs. 2500/- a month.

Sri Lanka to conduct threat assessments for presidential candidates

ECONOMYNEXT – Sri Lanka’s President Ranil Wickremesinghe has submitted a cabinet paper proposing security measures for presidential candidates and former presidents, following the recent attack on former US President Donald Trump during a campaign rally in the USA.

“This proposal suggests the appointment of a committee to conduct threat assessments and provide necessary security for Presidential candidates as well as former Presidents,” a statement from his media division said.

The committee will include the Secretary of the Ministry of Public Security as Chair, the Chief of Defence Staff, the Inspector General of Police, the Chief of National Intelligence, and the Senior Deputy Inspector General of Police/Elections.

A Deputy Inspector General of Police will be appointed to oversee all security arrangements.

The committee and the designated officer will work closely with the Election Commission to ensure seamless coordination of security arrangements, the PMD said.

After today, July 17, Sri Lanka’s Election Committee is empowered to announce a date for the presidential polls due to be held this year.

Minister of Foreign Affairs M U M Ali Sabry has said the election will be held on October 5 or 12.

Members of the Samagi Jana Balawegaya (SJB) have said that the government should be accountable for the security of Opposition Leader Sajith Premadasa, the SJB’s presidential candidate. (Colombo/Jul17/2024)

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Sri Lanka rupee closes flat at 303.80/304.00 to US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed almost flat at 303.80/304.00 to the US dollar on Wednesday, from 303.70/304.00 to the US dollar on Tuesday, dealers said, while bond yields were down.

A bond maturing on 15.12.2026 closed at 10.60/75 percent, down from 10.82/92 percent.

A bond maturing on 15.12.2027 closed at 11.60/38 percent, down from 11.65/75 percent.

A bond maturing on 01.05.2028 closed at 11.72/78 percent, down from 11.80/90 percent.

A bond maturing on 15.09.2029 closed at 12.05/10 percent, down from 12.05/20 percent. (Colombo/Jul17/2024)

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Sri Lanka stocks close down, John Keells, Hemas, Hayleys push turnover

ECONOMYNEXT – The Colombo Stock Exchange closed down on Wednesday, data on its site showed.

The broader All Share Index closed down 0.41 percent, or 48.44 points, at 11,830; while the more liquid S&P SL20 Index closed down 0.52 percent, or 17.91 points, at 3,456.

Turnover was 1.2 million. A big part of this (Rs597mn) came from John Keells Holdings Plc (down at 194.25).

“There was foreign buying interest on John Keells and Hemas,” Softlogic Stockbrokers said.

“We saw foreign interest in selective counters persist.”

Hemas Holdings Plc contributed Rs143mn to the turnover, and the share closed down at 81.10.

Hayleys Plc contributed Rs156mn to the turnover, and the share closed up at 101.50.

The three crossings made up 67 percent of the turnover.

The capital goods counters, with all the bluechips, was the leading sector contributing to the day’s turnover.

With the exception of Hayleys and a couple of other companies, the counter saw most stocks close down or flat.

Sentiment around the banking counters also remained negative.

“The volatility in investor sentiments persisted. There are a lot of spectators in the market over the last few weeks, despite some positive news coming in.”

Treasury bill and bond rates have also dropped.

The top contributors to the ASPI were Melstacorp Plc (up at 86.00), SMB Finance Plc (up at 0.70), and TeeJay Lanka Plc (up at 40.00).

There was a net foreign inflow of 392 million. (Colombo/Jul17/2024)

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