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TSRTC seeks 1,000 crore fund infusion
The Telangana State Road Transport Corporation (TSRTC) is mulling to seek a financial assistance of Rs 1,000 crore from the government in the wake of accumulating losses.
Hyderabad: The Telangana State Road Transport Corporation (TSRTC) is mulling to seek a financial assistance of Rs 1,000 crore from the government in the wake of accumulating losses. The corporation wants the government to either provide the assistance or allow them to procure loans or allow ticket fares to be increased as a last resort.
According to the RTC officials, the corporation has been reeling under accumulated losses to the tune of Rs 2,500 crore including the Rs 270 crore losses during the previous financial year. The officials want the intervention of the government to save the RTC.
According to a senior official, the corporation was facing losses in most of the depots. The corporation officials recently said 27 depots out of the 96 depots had come into profits, still there were losses to the tune of Rs 480 crore in the remaining depots.
The official informed that the depots in Karimnagar and Rangareddy region were in profits whereas there were losses in Mahbubnagar and Medak region. The corporation has been reeling under accumulated losses of Rs 2,200 crore.
To overcome the losses, the corporation has been searching for ways and means to generate revenues other than operations and as part of this, the corporation proposed to start mini-theatres in bus stations, starting mini buses and bringing services to doorsteps of passengers etc.
TSRTC Executive Director (Revenue) and Secretary M Venkateshwar Rao told The Hans India that the gap between income and expenditure was increasing and this gap should be filled. “We need budget like the Metro Rail. We have different taxes to pay like sales tax, MV tax, cess on diesel etc.
Even a rupee increase in the diesel prices is causing increase of expenditure of Rs 5 lakh per day,” said Venkateshwar Rao. He said if funds were given to the corporation in time, all the issues could be solved.
“The economic situation of the corporation is not good. At least Rs 1,000 crore is needed. The question is whether the government would give funds or allow the corporation to procure loans or allow hike in ticket prices,” said Venkateshwar Rao.
The officials seem to be a worried lot as the workforce of the corporation has been agitating over the new pay revision. Workers’ unions have been demanding the management to provide new pay scales which have been pending since April 2017 and fitment from 60 to 70 per cent.
