Fare Hike to Pull Out TSRTC from Debts?

Fare Hike to Pull Out TSRTC from Debts?

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Hyderabad: The Telangana State Road Transport Corporation (TSRTC) is mulling to increase the bus fare after Diwali. This decision will come up in view of the positive response from the government during the review meeting held on TSRTC.

The Chief Minister K. Chandrasekhar Rao directed the officials to submit a report on the percentage of bus fare hike to pull the TSRTC from losses. Around 15-20 per cent hike in fare is expected. Meanwhile, the officials are expecting an income of Rs. 16-18 crore and will prevent the losses.

According to the sources, the TSRTC is said to have incurred a loss of Rs. 1,246 crore in the last six months of the current financial year.

The appointment of new TSRTC managing director and chairman is also the reason to run the corporation in profits as it suffered huge losses due to the pandemic where the buses were confined to the depots for several months and decrease in the patronage fearing of contracting virus.

The positive sign has also come in the financial years that the TSRTC witnessed profits of Rs. 3.5 crore and it also created a record by collecting Rs. 14.79 crore in a single day during the Dasara Festival, in which the TSRTC has run the special buses without increasing the extra fare of the Dasara Festival special buses.