Andhra Pradesh State Road Transport Corporation will wipe out its losses by generating revenue from its vast areas of landed and building assets all over the State.
Making this announcement here on Friday at a press conference APSRTC Vice-President and Managing Director A.K. Khan said that the corporation was incurring losses in the Operations and Maintenance and that will be wiped out up to at least 20 per cent. “The landed property will be given to contractors for developing them on a Build Operate and Transfer basis so that part of the O&M losses could be wiped out,” the MD added.
A decision on allowing only private buses between Hyderabad and Vijayawada is pending with the State Government, he said and saw a large chunk of business for the RTC if the entire business was monopolised by the APSRTC, that too after the four-laning of the National Highway No.9 between these two cities.
In the current financial year the RTC was able to infuse 2,000 new buses, but 1,200 of them went into replacing the old ones and only 800 new ones could be introduced. The newly introduced buses were all in the hitherto un-served routes, Mr. Khan observed.
Our of the 28,000 villages in Andhra Pradesh had motorable roads, 24,000 of them had been covered by the APSRTC, he said. For Sankranthi festivities, some loss-making and with meagre patronage were identified and temporarily deployed as special buses on some profitable routes with a 50 per cent fare hike, he added.
Asked about the losses from the Telangana agitation-related destruction, Mr. Khan said that in future in case of any agitation, the buses would be stopped.