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School transport fares to be increased

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School transport service fares would be increased by 5% with effect from Friday (1) following the fuel price hike that came into effect on Thursday (31) night, the All Island Inter District School Children Transportation Association said.

Its President N. M. K. Harischandra Padmasiri said the increase in Diesel price by Rs.35/- has made an impact on their services.

“When the government reduced the prices, we reduced our charges to provide relief to the parents. However, at this time we are facing serious issues due to the hike in diesel price and charges of other services including insurance,” he said.

Accordingly, the fee of Rs. 5,000/- will be increased by Rs. 250/- and the fee of Rs. 10,000/- will be increased by Rs. 500/-.

Decision on bus fare revision today

Meanwhile, sources at the National Transport Commission (NTC) said the bus fares are likely to be increased with the diesel price hike by Rs.35.

A senior NTC official said if the price of diesel is revised by more than 4 per cent, a revision must be made based on the price formula and added that a decision on the bus fare revision will be announced this afternoon.

Three-wheeler fares to remain unchanged

However, the All-Island Three-Wheeler Drivers and Owners Association said three-wheeler fares will not be increased despite the increase in fuel prices.

Its President Sudil Jayaruk said that they cannot put extra pressure on the people who are already suffering from economic difficulties.

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Import tax on potatoes & big onions upped

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The Ministry of Finance has announced an increase in the special import tax on potatoes and big onions. 

The import tax on potatoes has risen by Rs. 10 per kilogram, from Rs. 50 to Rs. 60. Similarly, the import tax on big onions has been raised by Rs. 20 per kilogram, from Rs. 10 to Rs. 30. 

These measures have been implemented to regulate imports and support local agriculture.

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Laugfs gas prices to remain unchanged

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Laugfs Gas PLC announced that the company will not revise domestic LP gas prices for the month of October.

This was communicated by the Cluster Director/CEO of Laugfs Gas PLC, Dr. Niroshan J Peiris.

Earlier, Litro Gas had also announced that gas prices will remain unchanged during the month of October.

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PickMe shares enters CSE for debut trading

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Shares of leading mobility solutions app, PickMe owner Digital Mobility Solutions Lanka Ltd., will debut today for trading at the Colombo Stock Exchange following its highly successful Initial Public Offering (IPO).

The shares of the Company amounting to 333, 323, 673 would be listed on the Main Board of the CSE with Security Code PKME-N-0000 and will be classified under “20304040 – Passenger Ground Transportation.” sector.

The IPO involved issuance of shares worth Rs. 1.56 billion (43,474,179 existing ordinary voting shares at Rs. 36 each), and when it closed on the opening day itself on 13 September, the demand had been for shares worth Rs. 4.2 billion. The shareholding percentage on offer is 13.04%. There had been 866 applications requesting for 116.646 million shares worth Rs. 4.199 billion.

Ahead of today’s debut, Digital Mobility Solutions Chairman Ajit Gunewardene said: “We are thrilled to mark this pivotal moment as our company goes public, as we bring our vision of technology enabled, accessible, reliable mobility to even more communities. This listing represents not only a milestone for us, but a commitment to pioneering digital inclusion using advanced technology across Sri Lanka.”

CEO Jiffry Zulfer said: “PickMe will offer investors a new dimension, exposure into the digital economy. We will be the first and at this point in time the only technology company of scale to be listed on the CSE. It has been an exciting journey so far and having reached an inflection point, we are confident that we can continue to generate strong profitable growth. Our long term goal is for our app to become ubiquitous in everyday life. We have the team and the skills to execute this.”

(ft.lk)

(Except for the headline, this story, originally published by ft.lk has not been edited by SLM staff)

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