The Hindu Business Line : APSRTC losses put at Rs 1,100 cr

THE Andhra Pradesh State Road Transport Corporation (APSRTC) has accumulated losses to the tune of Rs 1,100 crore and a high power committee was constituted to suggest measures to bring the corporation out of the red, the State Transport Minister, Mr S. Santosh Reddy, told the Legislative Assembly on Friday.

The Minister said APSRTC had also initiated certain measures that have led to an increase in the occupancy rate in its buses by 3 per cent. Thus, the corporation was able to earn an additional Rs 141 crore at as it would earn Rs 47 crore more for every percentage increase in the occupancy rate.

Replying to questions raised by the members of the House during question hour, the Minister stated APSRTC was paying 19 per cent sales tax for the purchase of diesel. He, however, said there was no proposal to reduce the percentage of tax.

He said the State Government had reimbursed 50 per cent of the concessions given by APSRTC to various categories of people, amounting to Rs 167 crore.

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