Central Bank of Sri Lanka notes need for a Bus Rapid Transit system along with Light Rail Transit system
The Central Bank of Sri Lanka has reportedly stated that the country should explore cheaper and faster options to tackling traffic jams leading to lost productivity, like a Bus Rapid Transit (BRT) system while implementing a Light Rail Transit (LRT) system.
“Expeditious implementation of effective and affordable traffic management solutions is vital to curb numerous negative externalities arising from traffic congestion,” the Central Bank has said in its 2017 annual report.
Major improvements to both public and private bus transport services are essential to overcome traffic congestion in urban areas and reduce productivity losses in the overall economy due to road traffic, the report has stated.
“While implementing the light rail transit (LRT) system, other solutions targeted directly at root causes of traffic congestion, and relatively faster and cheaper to implement must be explored by the government,” the Central Bank has said.
These include “restructuring the bus network in the capital of Colombo into a Bus Rapid Transit (BRT) System as mooted by industry experts.”
The note by the Central Bank of Sri Lanka indicates the expansion of investment/business opportunities in the transport sector in Sri Lanka. The proposed LRT and the proposal by the Central Bank to set up a BRT system indicates a new investment opportunity in the transport sector.
|Article Code :||VBS/AT/10052018/Z_4|