BENGALURU: Transport entities KSRTC and BMTC have cut down their losses in the financial year 2014-15. However, both continue to have huge losses on their balance sheets at the close of the year.
Transport Minister Ramalinga Reddy told Express on Wednesday that the annual reports are yet to be presented to the boards of the corporations, but the situation was better than previous years.
“KSRTC has managed to bring down losses to around `42 crore this year as compared to `80 crore last year. BMTC has losses of around `61 crore while it was around `170 crore last year,” the minister said.
During a conference last year, Reddy had said employers’ contribution to PF and rise in salaries had put additional financial burden on the corporations.
