Formed under Central Act, it has Centre’s share in capital
It’s been almost a fortnight since Telangana was formed and the APSRTC still continues to function as one body. This is because the corporation was formed under the Central Road Transport Corporation Act and also because there is a Central share of capital.
Hence, the process is slightly more complex than it is, in the case of other departments, said APSRTC’s Vice-Chairman and Managing Director J. Poornachandra Rao. The Board had, at a meeting here on May 15, resolved to accept the name Telangana State Road Transport Corporation (TGSRTC) and communicated it to the Government, together with the ‘de-merger plan’.
The Board resolutions were sent to the Special Chief Secretary-Transport and the file made the rounds in the Secretariat before being passed on to the Experts Committee which is vetting them before forwarding them to the Union Ministry of Road Transport and Highways, said Mr. Rao.
As for the actual allocation of personnel between the two corporations, two Executive Directors each would be taking different subjects such as Administration, Human Resources, Operations, Finance and Engineering at the respective Head Offices. In a general sense, all sanctioned posts of 14 Heads of Departments in the head office would be divided in the ratio of 10:13 in tune with the number of districts currently in the two States, a senior official said.
As for its financial health, the TGSRTC will start its journey with excess baggage of Rs. 989.08 crore in cumulative loss, current liabilities and provisions of Rs. 803.16 crore and term loans to the tune of Rs. 2,109.56 crore. The silver lining though is the fact that it boasts of an occupancy ratio of 72.51 per cent, while APSRTC has an occupancy of 70.07 per cent.