HYDERABAD: Chief Minister A Revanth Reddy instructed the officials of the Telangana State Road Transport Corporation (TGSRTC) to make an effort to reduce the debt burden.
During a review meeting on RTC held at the Secretariat on Tuesday, the chief minister said that the corporation has `6,322 crore in debts, including loans taken from banks, funds used from employees’ provident fund accounts and dues to be paid to retired staff.
Noting that the interest rate being paid on loans taken from the banks is high, the chief minister instructed the RTC officials to study the situation and find ways to reduce interest rates and for debt restructuring. He suggested that the debt burden on the corporation should be reduced gradually.
‘Procure new buses’
During the meeting, Revanth also asked the officials to prepare plans for purchase of new buses as per the needs of the people. He also enquired about the free bus ride for women under the Mahalakshmi scheme.
Transport Minister Ponnam Prabhakar said that so far 83.42 crore women have travelled for free. After the launch of the Mahalakshmi scheme, the number of women from districts visiting hospitals in Hyderabad has increased, he added.
Officials said that with the increase in the occupancy rate and the reimbursement paid by the government, the company is now making profits.
Chief Secretary Santhi Kumari, secretaries to the CM Chandrasekhar Reddy and Shanawaz Qasim, Transport Department Special Principal Secretary Vikas Raj, TGSRTC MD VC Sajjanar and other officials were present.
