Telangana RTC back on the recovery path

HYDERABAD: The TSRTC, which was pushed into losses during the second lockdown, is now witnessing daily revenue generation of Rs 9 crore. The State transport corporation officials are hopeful of achieving stability if they succeed in generating another Rs 2 crore to Rs 3 crore additional revenue per day. 

During a review meeting chaired by Transport Minister Puvvada Ajay Kumar, the RTC officials brought to his notice that through ticket sales, the corporation is regaining stability. The last time similar situation was witnessed after restoration of services post first lockdown and at that time, the revenue hovered around Rs 9 crore and Rs 10 crore but it did not touch the expected figure of Rs 13 crore. However, with occupancy ratio increasing each day, the officials are optimistic of achieving that target this time. 

The meeting, which was also attended by Special Chief Secretary TR&B Sunil Sharma, Principal Secretary (Finance) K Ramakrishna Rao and Secretary (Finance) Ronald Ross, also discussed about the priority areas on which the recently released bank loan of Rs 500 crore is to be spent as RTC is expected to get another Rs 500 cr shortly. It may be mentioned here that this year’s budget allocation was Rs 1,500 cr and the government also promised another Rs 1,500 cr through other resources like loans. 

During the meeting, it was decided that the first instalment of Rs 500 crore will be utilised for restoring stability, besides clearing arrears of the retired staff. While another Rs 500 crore, to be released by the National Cooperative Development Corporation in the coming days, will be earmarked for dealing with Credit Cooperative Society.