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APSRTC gets Rs.250 crore
The Transport Ministry of AP government has issued the GO meant for the release of Rs 250 crore to the crisis-stricken State Road Transport Corporation (APSRTC), as promised by Chief Minister N Chandrababu Naidu.
The money also includes CCS fund of Rs.130 crore
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Hyderabad: The Transport Ministry of AP government has issued the GO meant for the release of Rs 250 crore to the crisis-stricken State Road Transport Corporation (APSRTC), as promised by Chief Minister N Chandrababu Naidu.
The amount was promised as a temporary bailout package to the Corporation, as the huge losses has made even its day-to-day operations difficult.
The amount would be used for operational purposes as well as for the Employees’ Cooperative Credit Scheme (CCS). During the two rounds of talks, the Employees Union (EU) of APSRTC held with its Managing Director Poornachandra Rao, they were promised a sum of Rs 130 crore towards the CCS corpus fund. RTC employees were very particular about the CCS refund, because it was “withdrawn by the RTC management in an improper manner” and the reimbursed corpus fund would enable them to apply for loans. With Thursday’s release of Rs 250 crore, which includes the CCS corpus of Rs 130 crore, RTC employees have had sigh of relief.
Speaking to The Hans India, EU general secretary Padmakar Rao said the GO was issued as promised. He said the government would soon issue the GO related to hiking of the DA by 5.5 per cent effective from October and added that he expects this order by September 25. Padmakar Rao informed that during the talks, the management has agreed to pay the Dussera festival advance on September 23.
