APSRTC in debts, not in debt trap: Minister

TDP charge on the decline of occupancy ratio rejected Hyderabad: The Andhra Pradesh State Road Transport Corporation (APSRTC) owes Rs 4,049.63 crore to State Government and various banks and financial institutions, claimed State Transport Minister Botcha Satyanarayana on Thursday. This includes a debt of Rs 2,509 crore taken from commercial banks and financial institutions, he said. Replying to a question raised by TDP MLAs G Jaipal Yadav, D Anasuya, Abdul Ghani, S Venkata Veeraiah in the Assembly, the Minister maintained that the public transport corporation was in debts but not fallen in debt trap. He informed that the corporation procured 3,151 and 1,051 buses during 2011-12 and 2012-13 respectively for replacement of old buses with the new ones. He rejected TDP's charge that occupancy ratio had gone down to due hike in bus fares.