RTC incurs Rs. 100-cr. loss
Tuesday, 22.12.2009, 10:28am (GMT+5.5)
HYDERABAD: Political developments during the last three weeks that severely hampered operations of the Andhra Pradesh State Road Transport Corporation has pushed it into a tight financial situation following an estimated loss of Rs. 100 crore.
The demand for a wage hike with effect from April 1, 2004 apart, even payment of existing salaries from next month will become difficult if the trend of losses continues, according to senior officials. By the end of October this year, profits dipped to Rs. 9 crore, while it was Rs. 109 crore by the end of October 2008. By the end of the 2008-09 fiscal, the corporation sailed through with profits of Rs. 95 crore overall, the first time in several years.
For the 11th day, the corporation could not run services in Anantapur and Kadapa districts and on Monday, all the 1,500 buses in Chittoor district were taken off the roads, severely hitting pilgrim traffic.
On account of disruption in Kurnool and Anantapur, services to Bangalore were hit, while the trouble in Kurnool, Kadapa and Chittoor resulted in passengers to Chennai being affected.
News Department
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