Diesel Price fall Panel to Study Impact
Published: 19th December 2014 06:10 AM | Last Updated: 19th December 2014 06:10 AM | A+A A-
THIRUVANANTHAPURAM:Transport Minister Thiruvanchoor Radhakrishnan has said that the government had asked the Justice Ramachandran commission to study the impact of the fall in prices of diesel.
Addressing a news conference here, he said it was the Ramchandran commission that recommended the fare hike based on the diesel prices at Rs 57 per litre. Though the diesel prices had not come down to that level yet, the Government had asked the commission to study the impact.
He, however, said KSRTC is currently getting a benefit of Rs 16.5 lakh per day following the fall in the diesel prices.But of this, Rs 9 crore has been set apart for providing free season ticket to around 1.30 lakh students.
He said that the KSRTC social security and Cess on passenger Bill would help KSRTC to generate Rs 164 crore a year. With this, as per the Supreme court directive 10 percent of the KSRTC income from ticket sales has already been there for the pension fund. Together it will make a Rs 284 crore for the Pension fund. He said the New Bill would be providing for giving personal accident insurance cover of Rs 5 lakh to the KSRTC passengers. The Minister said a consortium of nationed banks would be formed to take over KSRTC loan availed from KTDFC which has pushed the corporation to a crisis.
