The Andhra Pradesh State Road Transport Corporation (APSRTC), the biggest public transporter in the country, is paying Rs 300 crore per annum towards interest on loans taken from various financial institutions. Besides, it is also suffering losses to the tune of Rs 600 crore every year.
Speaking to mediapersons here on Wednesday, RTC managing director A K Khan said the corporation’s accumulated loss is Rs 4,000 crore. Moreover, the organization will have to bear a burden of Rs 150 crore to fulfill its employees’ demands conceded recently.
However, Khan exuded confidence about restoring RTC to profit.
In the last few weeks, he said, revenue has increased to Rs 3 crore a day and occupancy rate of buses has gone up 75 percent. “Our target is to earn a revenue of Rs 700 crore by increasing the occupancy rate and saving around `150 crore this year,” Khan said.
He said efforts are being made to seek concessions from the state government.
On being asked about air-conditioned buses running in losses in the city, he said a team has been sent to Bangalore to study as to how those buses make a profit there. Out of 210 depots across the state, around 73 have come out of the losses this year.
“We are not sure about operating CNG buses in the towns at this stage as there is not much difference in the prices of diesel and CNG. Over 5,000 buses will have to be replaced in the organisation,” Khan said.
He said as many as 290 cases have been booked against persons for carrying fake bus passes during a special drive in the twin cities. It will be extended to other districts soon, he added.