Kadamba Transport Corporation Limited (KTCL), a Government of Goa undertaking, came into existence in 1980. However it has been suffering a financial loss for the last many years which reportedly aggregates to more than 100 crores.
The huge loss has been attributed to salary cost, regulated fare, operation in obligatory routes and the competition from private bus operators.
Recently the Corporation has gone for electric buses. However here too it reportedly suffers huge losses as the transport corporation hires electric buses rather than buying them.
An agreement has reportedly been signed with a Hyderabad based company as per which KTC has to pay Rs 75 to the company per kilometer. It is learnt that the revenue earned by KTC per kilometer on these electric buses is Rs 50 resulting in a loss of Rs 25. It is understood that the loss per bus per day is Rs 4000.
In a startling revelation, the transport minister on Saturday conceded that KTCL neither has adequate number of buses to meet the requirement nor does it have the funds to go in for new buses.
As the State owned Transport Corporation has been in the red for far too long, it would be in the fitness of things for the government to outsource it.
