NASHIK :
The ST Corporation has decided to take out a loan of around Rs 2,000 crore to cover the salaries and other expenses of the employees.
It is understood that some ST depots and bus stands will be mortgaged for this. The final decision in this regard will be taken soon to get out from the financial crisis.
The only option left before the corporation is to borrow from the state government or a bank and the bank is considering taking out a loan. The ST Corporation’s financial position has deteriorated due to the closure of income.
It has also become difficult to meet the daily expenses along with the salaries of the employees. With 60 to 65 lakh passengers per day and an income of Rs 22 crore, the number of passengers has reached only up to 10 lakh, while the income has come down to five to six crore.
So far, the corporation has lost Rs 3,500 crore in passenger revenue. However, the issue of salaries of ST Corporation employees has become more serious since July.
The ST Corporation has now started taking funds from the state government for fuel, tyre and other small and big expenses.
The MSRTC used to earn Rs 22 crore every day before the Coronavirus outbreak, but presently its revenue from passenger services has fallen to barely Rs 5-6 crore, official said.
