HYDERABAD: The TSRTC getting a ‘raw deal’ in the Budget has raised concerns of the transport utility corporation slipping into further debt. The management already owes nearly Rs 2,500 crore to the staff and retired employees in wages and pension. The burden of debt that was borrowed in the form of loans to run the transport corporation has now touched Rs 2,900 crore, which includes Rs 1,000-crore non-Budget loans in 2021-22.
According to official sources, of the Rs 2,500 crore that the corporation owes its employees include Rs 783 crore dues to Employees’ Thrift & Credit Cooperative Society (CCS), the Provident Fund (PF) of Rs 1,239 crore, and Rs 385 crore as part of Staff Retirement Benefit Scheme (SRBS),
“It is an acknowledged fact by management that during the past two years, the corporation has suffered losses to the tune of Rs 4,285 crore. Even during the last year’s budget where Rs 1,500 crore was earmarked, the Corporation only received around Rs 1,000 crore,” an official said. The TSRTC will have to continue with more than half of the buses aged over 10 years. Most of the buses being used in City are at least seven years old. Hardly any new buses have been added to its fleet after the formation of Telangana State.
Even the buses plying on long-distance routes were procured four to five years ago. It is feared that the situation will only get worse in the coming days, as rather than augmenting the fleet and expanding routes, the corporation might have to cut down operations. The rural areas are likely to suffer if efforts are not made to keep the corporation afloat.
Mounting debt may affect operations
The management already owes nearly Rs 2,500 crore to the staff and retired employees in wages an pension. According to official sources, of the Rs 2,500 crore that the corporation owes its employees include Rs 783 crore dues to Employees’ Thrift & Credit Cooperative Society (CCS), the Provident Fund (PF) of Rs 1239 crore, and Rs 385 crore as part of Staff Retirement Benefit Scheme.