RTC mired in red but Khan is cocky

Published: 09th August 2012 10:20 AM  |   Last Updated: 09th August 2012 10:20 AM   |  A+A-

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.

Stay up to date on all the latest Andhra Pradesh news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp