The Hindu Business Line : Govt okays Rs 125 cr to APSRTC

THE Andhra Pradesh Government has decided to provide Rs 125 crore to the State Road Transport Corporation (APSRTC) in view of the hike of the diesel prices and constitute a High Level Committee to improve its financial condition.

The committee with Spl. Chief Secretary (Transport), Managing Director of APSRTC, Principal Secretary's of Finance and Industries will make recommendations to ensure that the financial health of the Corporation improves on a sustainable basis.

In a package of measures to improve the financial condition, the Government also decided to sanction 50 per cent of reimbursement on concessions extended to various sections of commuters, which amounts to Rs 167.50 crore, as against Rs 100 crore proposed for the current year.

The corporation would also be empowered to take action on checking illicit operations by private contract carriages. These decisions were taken at a meeting chaired by the Chief Secretary, Dr Mohan Kanda, today, according to an official release.

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Govt okays Rs 125 cr to APSRTC