Corporation has already suffered a cumulative loss of about Rs. 350 crore
The APSRTC is contemplating seeking financial assistance from the government to stay afloat in view of the escalating losses owing to the Samaikyandhra agitation. Such is the Corporation’s dire state that it could pay this month’s salaries only to employees of the Telangana region, while salaries of those protesting in the Seemandhra region were not disbursed.
“Salary payment comes to Rs. 260 crore for all the three regions, and we managed to disburse Rs.125 crore as salaries for Telangana employees this month. But, we cannot manage even this in the coming months,” a senior RTC official admitted.
Employees of as many as 123 depots in the Seemandhra region have been protesting since August 13, and the Corporation has already suffered a cumulative loss of about Rs. 350 crore, and the going is getting tough each day thanks to the ongoing strike.
Of the total revenue of the Corporation, 80 per cent is utilised for payment of salary and oil expenditure among others. Even as services in the Telangana region are being operated according to schedule, the revenue generated is about Rs. 9 crore a day, and it is not enough to pay salaries and meet other expenditures, explained the official.
The Corporation has also decided to convene a board meeting later this week to discuss measures to be adopted for bailing it out and the future course of action including seeking financial support from the government.
All the 720 RTC buses operated everyday from the Mahatma Gandhi Bus Station (MGBS) in the capital to various Seemandhra regions are now being curtailed to Kodad, Alampur and Nagarjunasagar. It does not include airconditioned Indra, Garuda (Volvo) and Vennela (sleeper), numbering close to 50, as they have been confined to the depot lest they should suffer damage during the protests.
Interestingly, private bus operators are conducting services everyday to both the coastal and Rayalaseema regions from the capital without any major hindrance.