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Huge debt for Seemandhra RTC
Huge Debt for Seemandhra RTC , The APSRTC of residuary Andhra Pradesh will be starting its operations with a debt burden of Rs 3,000 crore on its back. Its share of loans would be moved over to its account on June 2.
- APSRTC to be divided into two by May 25
- Seemandhra unit to have Rs 3,000-cr debt
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Hyderabad: The APSRTC of residuary Andhra Pradesh will be starting its operations with a debt burden of Rs 3,000 crore on its back. Its share of loans would be moved over to its account on June 2. The panel looking after RTC division submitted a report to the Governor E S L Narasimhan. The officials calculated the losses for the last five years and divided it in 58:42 ratio between the residuary AP and Telangana. At present, the RTC earns from Rs 19 crore to Rs 20 crore a day while the expenditure touching ranges from Rs 21 crore to Rs 22 crore. The debt burden at present is around Rs 5,000 crore and it has to be shared. The assets have been divided as per their location and their value in both the regions is said to be Rs 50,000 crore and.
The RTC hospital, RTC driving school and printing press would be run by both the states till the new capital is constituted for Seemandhra. The report observed that the RTC unit of AP would run into losses if the residuary state fails to check private buses which have been plying from various towns of Seemandhra. The report said that there is also a huge network of railways in Seemandhra and most of the commuters prefer passenger trains to RTC buses. Likewise, plying of private jeeps and vans is more in Telangana and they should be checked for the smooth running of the RTC in that, the panel observed. Some 3,600 employees would be sent to Seemandhra RTC. Thy would work in Seemandhra RTC corporate office in Hyderabad till the new capital is set up. The APSRTC would be divided into two corporations by May 25.
