RTC losses mount to Rs 1,000 Cr
Hyderabad, Nov 14 (INN): Telangana Transport Minister P Mahender Reddy on Friday admitted that the Road Transport Corporation has been incurring losses during the past several years.
Replying to a question raised by MLA Manchireddy Kishan Reddy during Question Hour in the State Legislative Assembly, the minister said that the accumulated loss of the corporation is Rs 1,095.12 crore and accumulated borrowing is Rs 2,056.75 crore as on June 1, 2014.
The minister said that no demand is pending from the RTC workers to regularise their services. "As per MoU entered with recognised union on July 4, 2013, it was agreed upon to appoint the existing 10,150 contract drivers and 7,137 contract conducts who were recruited till the end of December 2012, on regular time scale in four phases," the minister said.
News Posted: 14 November, 2014
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