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KSRTC is facing the greatest crisis ever in its history

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Story Dated: Monday, September 02, 2013 01:23 hrs UTC

The Kerala State Road Transport Corporation (KSRTC) is facing the greatest crisis ever in its history with the debt to the Kerala Transport Development Finance Corporation Ltd (KTDFC) crossing Rs 1,200 crore.

The collection from three more depots will now be acquired by the KTDFC. This means the KSRTC will not be able to pay festival allowance to its employees. In the present scenario, the employees will not get the proposed hiked allowances from November.

The KSRTC need to repay Rs 1.10 crore to the KTDFC on a daily basis. But with the debts crossing more than  Rs 1,200 crore, Rs 1.28 core had to repaid daily. This meant apart from the collection from 19 depots, collection from Adoor, Moovattupuzha and Kottarakara depots were also handed over to the KTDFC from last week.

Out of the 84 depots in the state, collection from 22 depots go to the KTDFC coffers. Already collection from 4 depots are handed over to the HUDCO as part of repayment of debt.


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