Karnataka St-ate Road Transport Corporation (KSRTC) will not hike the bus fare even if the Union government increases the fuel prices in coming days, Transport Minister N Cheluvar-ayaswamy assured on We-dnesday.

“There is no need for KSRTC to increase the bus fare. It is making profit. The Corporation has ea-rned Rs 34 crore net profit during 2006-07,” he told reporters.

KSTRC has earned Rs 1,272 crore in 2006-07, against Rs 1,086 in 2005-06. It has set a revenue target of Rs 1,625 crore for the current year. Not only KSRTC, even North-East State Road Transport Corporation has made Rs 12 crore profit in the last year, he added.

He also said KSRTC will take up several development projects like augmentation of 740 new schedules, purchase of 1,550 new buses including 50 Volvo buses besides Inter Model Transit Centre at Peenya in the city. It had also taken up several up-gradation of infrastructu-re facilities at bus stations across the state, he said.

Ex-gratia for staff

The minister anno-unced an ex-gratia of Rs 2,500 to all KSRTC employees for this year, in view of Rs 34 crore profit made by the Corporation.