The Andhra Pradesh State Road Transport Corporation (APSRTC) has started registering improved revenues raising hopes that the public sector transport giant will soon reach a break-even point.
“Compared to last year, this year the corporation has reduced revenue losses by ₹330 crore. If this performance is repeated for one more year, the organisation may reach break-even point,” said Transport Minister K. Atchannaidu here on Wednesday.
He was addressing a meeting organised in connection with distribution of incentives to RTC staff who had contributed towards high KMPL thus saving fuel for the organisation.
He said in addition to funds to the tune of ₹440 crore granted towards reimbursement and other small dues, a loan component worth ₹1,000 crore was given recently.
The Minister said he would try to impress upon the government to allocate a budget of ₹900 crore to the debt-ridden organisation. Acknowledging the fact that the RTC incurs an expenditure of nearly ₹1,400 crore which translated into 31 % of its budget due to the burden of Central and State taxes, Mr. Naidu said if not for all buses, he would urge the government to give tax exemption for at least the Palle Velugu service.
‘Save fuel’
“Fuel is precious. The government spends huge funds to import it. It is imperative to save energy,” he reiterated, adding that proper coordination between the bus crew could go a long way in the fuel-saving drive.
Vice-Chairman and Managing Director of APSRTC M. Malakondaiah stressed the need to improve the public transport system as it would also help in bringing down the number of accidents.
“It will also provide the much-needed economic boost to the public sector organisation,” he said.
The organisation felicitated 114 staff members who contributed to the good performance of the corporation buses this year. They included best drivers, mechanics, safety driving instructors and supervisors.
The corporation’s executive officers, Regional General Manager and other officials were present.
