Representative Image / Photo: Mathrubhumi
Kochi: The Kerala High Court has directed the authorities concerned to carry out audit and publish a white paper to ascertain how KSRTC became indebted by loans.
In fact, KSRTC owes Rs 3,656.55 crore to KTDFC and other banks. If the KSRTC could resolve the borrowings from these loans, then it can function properly.
At present, KSRTC fetches Rs 192 crore as return in a month. This will be enough to settle diesel costing Rs 90 crore and salary expense costing Rs 72 crore. There will be money to purchase spare parts too. However, this does not happen as loan payments eat up the return.
The state government maintained that a high-level meeting will be convened by the CM to study the issues of KSRTC. The court directed the state government to come up with measures to resolve the present crisis.
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