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Combined Loss of KSRTC Put at Rs 1616 Crore

KSRTC has incurred a combined loss of Rs 1616 crore owing to social commitments of alternative governments,

Published: 06th August 2014 09:05 AM  |   Last Updated: 06th August 2014 02:44 PM   |  A+A-

THIRUVANANTHAPURAM: Kerala State Road Transport Corporation (KSRTC) has incurred a combined loss of Rs 1616 crore over the years owing to social commitments of alternative governments, including concession to students, Transport Minister Thiruvanchoor Radhakrishnan said.  

“The loss was Rs 105 crore in 2007-08, Rs 117.60 crore in 2008-09, Rs 134.4 crore in 2009-10, Rs 225.88 crore in 2010-11, Rs 353 crore in 2011-12, Rs 357.41 crore in 2012-13 and Rs 323.39 crore in 2013-14, he told a press meet here on Tuesday. KSRTC has also incurred a loss of Rs 427 crore for conducting services which were not economically viable.

The High Court observation on Monday that the Corporation should consider closing down, he said that it could not be viewed as against him. “In spite of acute fund crunch KSRTC has been contributing Rs 209 crore per year to the state exchequer in terms of tax on diesel and on vehicle tax,” he said.

The Minister declined to comment on the reported reluctance of the Finance Department to allow fund for paying pension to the retired staff which was pending for the past three months. He also failed to substantiate the reason for the inordinate delay in implementing the revival package formed to save the KSRTC.

“KSRTC needs a viable revival package,” was his response as he was not able to establish why the package was still in the ‘freezer’ despite many rounds of cabinet and cabinet sub-committee meetings.

“KSRTC will have to recall another 868 old buses in the near future which has already withdrawn 189 buses. Therefore, among the 1,500 buses which are being purchased, 1,057 will have to be used to replace the old buses. So that it was factually correct that it was difficult for KSRTC to take up new services,” said the Minister who was facing the heat for the decision to renew the permit of private super class services.

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