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KSRTC cannot afford to go on this way: Aryadan

KSRTC cannot afford to go on this way: Aryadan

Kochi: The Kerala State Road Transport Corporation (KSRTC) is in for more trouble as the latest hike in diesel prices will entail an additional burden of Rs.7.5 lakh a day on the corporation, Transport Minister Aryadan Mohammed has said.

Speaking to reporters here on Saturday, he said the corporation cannot afford to go on this way. “If it goes on like this, the corporation will have to be shut down,” said the minister adding he does not expect the central government to come to the rescue of the public sector company.

The hike of the price of bulk diesel by Rs 1.19/litre on Friday by the oil companies has pushed the corporation into deeper trouble.

The corporation will have to shell out Rs 63.69/litre for diesel while the price will be Rs 50.30/litre for retail consumers, including the private transport buses.

The latest hike will result in an additional operational loss of over Rs 2 crore a month for the corporation. It is already running at an operational loss of Rs 86-90 crore a month and is finding it difficult to pay its 37,000-odd pensioners in January.

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