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Infuse Rs 1,000 crore to save RTC, suggests union leader M Nageswara Rao
Infuse Rs 1,000 crore to save RTC, suggests union leader M Nageswara Rao
Trade union leader and former APSRTC director M Nageswara Rao on Thursday sought immediate relief measures for Telangana State Road Transport Corporation (TSRTC) like grant of Rs 1,000 crore and relaxation of all types of taxes for a period of two years from the government for saving the loss making Corporation
Hyderabad: Trade union leader and former APSRTC director M Nageswara Rao on Thursday sought immediate relief measures for Telangana State Road Transport Corporation (TSRTC) like grant of Rs 1,000 crore and relaxation of all types of taxes for a period of two years from the government for saving the loss making Corporation.
In a letter to Chief Minister K Chandrashekar Rao, the trade union leader suggested demanded the government to exempt TSRTC from paying all types of taxes for a period of two years. He wanted the government to have accountability in the management.
He also wanted the government to form a high-level committee and seek a report within 45 days on measures to overcome the ill-effects of long- term corona pandemic, for increasing income and for controlling the expenditure.
Nageswara Rao said that the Corporation had suffered a loss of Rs 929 crore during 2018-19 and Rs 1,000 Crore during 2019-20. The Corporation had loans of Rs 2,113 crore till November 21, 2019 and it has taken another loan Rs 600 crore.
The Union leader informed that the employees were given half salaries during March, April and May and as a result the Corporation will have to pay dues of Rs 250 crore to the employees.
The DA dues were also not provided to the employees and there was no salary advance to the staff during the festivals. The Corporation has not earning any profit since March 22, the day on which lockdown was imposed.
The income in the month of June was Rs 97 crore, in July it was Rs 72 crore. He said that the increase in diesel prices (Rs 13) has led to additional loss of Rs 260 crore.
