KSRTC seeks 65cr from govt

Thiruvananthapuram: Kerala state road transport corporation (KSRTC) has approached the state government again seeking Rs 65 crore financial assistance for the disbursement of May salary before June 5.
The KSRTC management said in a letter given to the state government that the usual Rs 30 crore share given to the management will not be sufficient for paying the salary and hence an additional Rs 35 crore should also be sanctioned this time.
KSRTC, which has taken Rs 50 crore as overdraft each in April and May, will have to repay Rs 50 crore to the bank now. Hence the management is of the view that the banks will not be sanctioning another overdraft in June if the first overdraft taken is not repaid.
For paying the April salary the government had given Rs 50 crore in May. However, while sanctioning this amount, the finance minister had made it clear that the government will not be able to provide this financial help to KSRTC every month.
The salary disbursement for April has not yet been completed as KSRTC requires Rs 8 crore more for completing this. The management is of the view that it can be paid from the daily generated revenue.
The unions, including CITU, have threatened strike from June 6 if the May salary is not paid before June 5. Hence the management has requested the government to help well in advance.