Representational Image | Photo: Mathrubhumi
Thiruvananthapuram: The Kerala State Road Transport Corporation (KSRTC) on Tuesday partially disbursed the first instalment of the employees' salary for the month of May. The money for the salary was found from an overdraft of Rs 35 crore borrowed from the State Bank of India (SBI) coupled with another Rs 5 crore provided by the corporation.
As per reports, the corporation has not yet repaid the overdraft of Rs 45 crores which was borrowed earlier in May to distribute the salary for the month of April. According to the management, they are unable to pay the salaries from the revenue as it gets used up for the purchase of diesel.
Furthermore, it is learnt that government aid will be required to pay the second instalment of the salaries. The corporation has sought Rs 50 crore for the purpose. However, no consensus has been reached over the date of distribution.
Usually, government assistance is provided by the third week of the month. If that is the case, then the management is hoping to pay the rest of the salary by June 25.
Owing to the financial crisis, employee salary has been disbursed in two instalments since February this year.
In addition, the disbursal of pension is also in uncertainty again. The finance department informed that it will grant Rs 140 crores, but no order has been issued in this regard so far.
RELATED STORIES
.jpg?$p=ab06d6d&f=1x1&w=100&q=0.8)
.jpg?$p=884f855&f=1x1&w=100&q=0.8)
IN CASE YOU MISSED IT
.jpg?$p=e681d94&f=1x1&w=100&q=0.8)
.jpg?$p=e46f401&q=0.8&f=16x11&w=104)
.jpg?$p=da548d6&q=0.8&f=16x11&w=104)
.jpg?$p=2587711&q=0.8&f=16x11&w=104)
.jpg?$p=e681d94&q=0.8&f=16x11&w=104)
