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SRTC a white elephant for state exchequer 6/20/2016 11:15:31 PM Muhammad Mukaram Early Times Report Srinagar, June 20: The state owned State Road Transport Corporation (SRTC) has become a pauper fighting for its survival as the Corporation is facing severe financial crises, in a revelation the Jammu and Kashmir government is going to outsource Corporation on the 'public private partnership' mode. For the last four years, the SRTC has witnessed heavy losses over Rs 125 crore and its assets are lying defunct. Officials revealed that SRTC suffered Rs 25 crore losses during 2012-13, around Rs 40 crore in 2013-2014 and Rs 30 crore in 2014-2015. During 2015-2016, officials said the Corporation suffered around Rs 30 crore losses. The SRTC suffered a losses of Rs 15 crore to its assets during September 2014 floods. Most of the employees of the Corporation are without salaries as it has turned a "loss making institution" for the government. "The lackadaisical approach of the authorities was the reason for its heavy losses," an official of SRTC said. "Officials have failed to manage the functioning of the Corporation unlike in other states where the state owned corporations have turned a profit making institutions for the respective states." Officials said most of the vehicles of the SRTC are lying defunct as authorities had failed to repair them so that they could be made available for the operations. The Corporation had around 1800 vehicles including buses and trucks in 1900s whose number has reduced to less than 900. "This all was due to ill-managing by the authorities," the official said. Sources said the government has not been providing any financial assistance to it for the past many years for its revival. Further the government has established offices on most of its land. "We have now very less land available for its operations. It seems difficult to take out the SRTC from the financial crisis," the official said. Government is setting up of Tehzeeb Mehal on SRTC land near TRC Srinagar. Similarly in Jammu, large land of the Corporation was used for other purposes. Minister of State for Transport Sunil Sharma admitted that SRTC was facing problems in continuing its operations. "But we are making efforts for its revival. We are going to start its operation on public private partnership mode. Both the SRTC and the private operators will be the shareholders of the profit," he said. Further Sharma said government was making efforts to ensure best transport system is in place.   Share This News with Your Friends on Social Network     Comment on this Story

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