Kochi: The High Court has reduced the amount to be paid from the daily collection to the corpus fund formed to provide pension benefits in KSRTC from 10 percent to 5 percent. The interim order was passed by a bench comprising Justice Anu Sivaraman and Justice C Pradeep Kumar based on KSRTC’s appeal against the single bench order that 10 percent be collected.

From January 1 onwards, only five percent needs to be collected. However, the court stated that this should be restored to 10 percent as soon as possible and that this reduction is allowed only considering the current economic situation.

The court also instructed KSRTC to inform from when onwards 10 percent  can be set aside. The plea was adjourned to February 2. 

At present, Rs 1 crore is being paid as loan repayment from the daily collection. Diesel amount is also paid from this. The lawyer representing KSRTC said that if ten percent of the amount is transferred to the corpus fund, all these payments will be stalled.