Representative Image | Photo: Mathrubhumi
E-auction of buses that were to be scrapped has proved a blessing in disguise for KSRTC as average scrap value rose from Rs 80,000 to Rs 3.4 lakh. By selling 473 buses, KSRTC added around Rs 10 crore to its kitty. Interestingly, this is the first time that such a large number of buses are being sold at once.
After Covid-19 lockdown, a review found that 920 buses were inoperational. As many as 300 buses were converted into 'shop on wheels'. While the remaining 620 buses were to be scrapped.
The auction was carried out by Metal Scrap Trade Corporation. The online mechanism curbed the malpractices in the process. The buses sold in the first auction and second auction are 418 and 55, respectively.