Transport utility to rope in MLAs

August 27, 2014 10:37 am | Updated November 16, 2021 05:40 pm IST - THIRUVANANTHAPURAM:

The Kerala State Road Transport Corporation (KSRTC) has come up with a novel idea to solve the transport problems in the 140 Assembly constituencies in the State as part of projects being worked out by it.

Under this, the KSRTC will give support to legislators to solve the transport problems faced by passengers in their constituency. For this, the legislators will have to provide Rs.1 crore from their MLA’s Asset Development Fund.

The KSRTC will provide buses from its fleet as suggested by the legislator on the recommended routes. The MLA will have to ensure minimum collection from the schedules, Minister for Transport Thiruvanchoor Radhakrishnan told presspersons here.

Guarantee for loan

To overcome the financial crisis in the KSRTC, the government has decided to stand guarantee for loan of Rs.300 crore taken by the transport utility from the Palakkad District Cooperative Bank. A consortium of banks is being worked out to restructure the Rs.1,300-crore loan taken by the KSRTC from the Kerala Transport Development Finance Corporation at an interest of 15.5 per cent.

On the Super Class services, the Transport Minister said the interests of the KSRTC would be protected. The Chairman and Managing Director of the KSRTC had been asked to look into the issue, and submit a report.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.