Afzal, 31, of Thundaparambil House, was arrested on the charge of sexually abusing the girl, who is a Class-8 student, inside a bus.
The fare for travel on ordinary services from 8 pm to 5 am could be 50% more than the daytime fares if this proposal receives assent.
According to the United forum of the bus owners, they would go on strike since the Kerala Government did not keep the promise that all their demands would be met within a month.
Ministers Antony Raju and V Sivankutty had told the students' representatives that private bus owners were hit by the fuel charges.
Tamil Nadu has lifted restrictions on buses from Kerala in the wake of drop in COVID-19 cases here.
The major demands of the bus owners include increasing the minimum charge from Rs 8 to 12, rate per km from 90 paise to Rs one and minimum charge for students from Rs one to six.
The bus owners' primary demand is to see a hike in fares in view of the rising fuel prices.
The Bus Owners' Committee is demanding that the minimum charge be increased to Rs 12, the minimum fare for students be hiked to Rs 6, and Rs 1 be charged for every additional kilometre.
The pandemic and the resultant lockdown made it impossible to manage bus services without losses.
The minister informed that the government will need some time to arrive at this policy decision.