NEW DELHI: The Delhi Metro is soon likely to introduce revised fares. The Centre on Monday notified a panel for the revision of Metro fares.
Th e Panel headed by a former Delhi high court judge will submit its report within the next three months.
The Delhi Metro fares were last revised in 2009 when the minimum fare was raised from Rs 6 to Rs 8 with the maximum fare being raised to Rs 30 from Rs 22.
“The ministry of urban development has notified the Fare Fixation Committee (FFC) for recommending passenger fares for the Delhi Metro network,” an official release by the ministry read.
The FFC is headed by justice (retired) ML Mehta. The committee has been given three months to submit its report.
The other members of the fourth FFC are additional secretary (urban development ministry), Durga Shanker Mishra, and Delhi chief secretary, KK Sharma.
Delhi Metro Rail Corporation (DMRC) has been demanding revision of fares for a long time now. DMRC has cited increase in electricity tariff, a major component of the operational cost, and other major maintenance costs. Almost 40 per cent of Metro’s overall expenses go towards paying electricity bills.
“Delhi Metro has been operating at base fare for over seven years now. The expenses of running have gone up. Fare hikes were long overdue,” said a senior metro official.
New fares, however, will only be implemented after the recommendation of the committee is examined.
According to the data provided by the urban development ministry, DMRC registered a net loss before tax of Rs 275.46 crore in 2014-15, a whopping increase of 353 per cent from Rs 60.74 crore in 2013-14.
The net loss was to the tune of Rs 7.94 crore in 201213. Recently, DMRC chief Mangu Singh had also hinted that it was time for a fare hike as the current charges did not reflect the increase in costs of operation.