In an effort to augment revenues, the Telangana State Road Transport Corporation (TSRTC) has decided to give on lease land parcels at 10 locations in the State to Hindustan Petroleum Corporation Limited (HPCL), which will set up retail fuel outlets.
Land parcels measuring between 607 square yards and 1,282 square yards in Asifabad, Mehdipatnam, Charla, Venkatpuram, Korutla, Kosgi, Thimmajipet, Morthad, Jakranpally, and Eturunagaram will be given on lease for a period of 30 years. The move comes after HPCL emerged as the successful bidder and was awarded the tender.
While the lease amount, which is different for different locations, will remain constant for the first three years, there will be an increase from the fourth year in slabs and corresponding to the year the lease is in force.
Given the fact that the transport juggernaut has been grappling with crushing losses over the past few years, it has been mulling generating revenues by commercialising its properties. The leasing of its properties is a step in generating revenues.
In a separate development, and in an attempt to allay the concerns of those contemplating taking voluntary retirement over settlement and benefits, the TSRTC, in a letter to its officers, clarified that those opting for its voluntary retirement scheme (VRS) would be given gratuity, provident fund, Employee’s Pension Scheme, leave encashment, additional monetary benefit, bus passes, and some other benefits. Eligibility for certain benefits, however, would be contingent upon certain conditions such as the number of years of service.
As was reported in these columns, the TSRTC had called for applications from those who are desirous of availing VRS. Employees who have completed 20 years of service are eligible to apply for the scheme. “Some employees had doubts about what benefits they would get if their VRS applications are cleared. This is why the letter was sent to officers so that the benefits could be communicated to employees,” an official said.