The Bagmati Province government has decreased fares for public vehicles and cargo carriers plying in the province including Kathmandu Valley.

The Ministry of Labour, Employment and Transportation of the province said the new fares will come into effect from Thursday.

As per the new fare, passengers travelling on public vehicles within Kathmandu Valley will be charged Rs18 for a five-kilometre ride. The fare has been decreased from the previous price of Rs19.

According to a statement from the ministry, the fare for travelling up to 10 kilometres has been set at Rs24, up to 15 kilometres at Rs29, and up to 20 kilometres at Rs32. If passengers travel over 20 kilometres, they will be charged Rs37.

The fares for public vehicles operating in other parts of the province have been slashed by 2.30 percent.

The fares for cargo vehicles have been decreased by 3.18 percent, said the ministry.

On July 17, the Department of Transport Management lowered the fares for public transportation and cargo carriers that travel between two different provinces. This decision was made due to a decrease in the price of diesel.

The fare on passenger vehicles was slashed by 2.13 percent. The fare of cargo carriers plying on hilly roads was reduced by 2.78 percent. The fare of cargo carriers operating in the Tarai area was slashed by 3.09 percent.

The Nepal Oil Corporation on July 16 had slashed the prices of petroleum products. With the reduction of Rs4 per litre, diesel now costs Rs 146 per litre in the Capital.