Diesel price hike: AP State Transport Corpn to incur Rs 715 cr burden

VISAKHAPATNAM, JAN. 21: 

The AP State Road Transport Corporation (APSRTC) will have to incur additional expenditure of Rs 715 crore a year in view of the steep hike in prices of diesel for bulk users, according to RTC Vice-Chairman and Managing Director A.K. Khan.

He was here on Monday to participate in the inaugural of the three-day sports meet of APSRTC, which began at the port stadium.

“We are seized of the issue and our officials are looking at ways and means to tide over the crisis. The additional burden on the corporation is Rs 2 crore a day. The corporation is not in a position to bear such a huge expenditure,” Khan told the media, when his attention was drawn to the issue.

He, however, evaded a direct reply when asked whether a hike in the bus fares was imminent, but only said: “teams have been formed to look at alternative means for raising resources.”

He said the private transport operators would stand to benefit as the hike was nominal for those who procure it in retail.