Express press service
HYDERABAD: The TSRTC getting a ‘rough deal’ in the budget has raised fears that the transport utility company could take on more debt. Management already owes nearly Rs 2,500 crore to staff and retirees in salaries and pensions. The debt burden that was borrowed in the form of loans to run the transport company has now hit Rs 2,900 crore, which includes Rs 1,000 crore of non-budgetary loans in 2021-22.
According to official sources, out of the Rs 2,500 crore the company owes its employees, there are Rs 783 crore owed to the Employees’ Thrift & Credit Cooperative Society (CCS), the Provident Fund (PF) of 1 Rs 239 crore and Rs 385 crore under the Staff Retirement Scheme (SRBS),
“It is a fact acknowledged by the management that over the past two years the company has suffered losses to the tune of Rs 4,285 crore. , the Corporation has only received around Rs 1,000 crore,” an official said. The TSRTC will have to continue with more than half of the buses over 10 years old. Most of the buses used in the city have at least seven years Virtually no new buses were added to its fleet after the formation of the state of Telangana.
Even the buses serving the long-distance lines were bought four or five years ago. It is feared that the situation will only get worse in the coming days, as rather than increasing the fleet and extending the routes, the company may have to reduce its operations. Rural areas are likely to suffer if efforts are not made to keep society afloat.
Growing debt may affect operations
Management already owes nearly Rs 2,500 crore to staff and retirees in salaries and pensions. According to official sources, out of the Rs 2,500 crore the company owes its employees, there are Rs 783 crore owed to the Employees’ Thrift & Credit Cooperative Society (CCS), the Provident Fund (PF) of 1239 crores of rupees and 385 crores of rupees under the staff pension scheme.
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