JOIN USClose on the heels of the hike in BMTC fares, people now need to prepare themselves for a similar hike in the State-run KSRTC.
Transport Minister Ramalinga Reddy has indicated that an eight per cent hike in KSRTC fares is on the cards and is likely to make an announcement in the next two-three days.
In 2013, KSRTC fares were hiked by 10.5 per cent and even the North East Karnataka Road Transport Corporation (NEKRTC) and the North West Karnataka Road Transport Corporation (NWKRTC) followed suit. Addressing a press conference on Friday, the minister said that the government is short of funds and already the BBMP, ESCOMs and the PWD have several loans to pay off, so immediate financial aid to the bus corporations cannot be expected, thereby necessitating the hike.
Reddy also hinted at a hike in fares of all other state transport corporations, including NEKRTC and NWKRTC, in the next two-three days. Fares will be hiked by eight per cent for NEKRTC and NWKRTC, he added.
The minister said that the KSRTC has incurred a loss to the tune of Rs 200 crore. Also, salaries of employees was hiked along with the DA, and coupled with the increase in diesel prices, the KSRTC has to bear with a burden of Rs 207 crore.
The exact hike in fares will only be announced in the next few days as KSRTC MD Manjunath Prasad is currently out of the country.