Clarifies that the corporation does not have funds to purchase buses
Hyderabad, December 17, 2007The Andhra Pradesh State Road Corporation (APSRTC) on Monday denied that it was contemplating to privatize the organization as indicated by release of tender notification for hiring of 1,500 buses. The APSRTC Executive Director stated in a press release that there is absolutely no basis in the allegation or presumption that any privatization of APSRTC services is contemplated.
The release said although, the corporation was earning profits since 2006-07, it could not generate the funds required for procurement of large number of buses. It left with no alternative to hire buses.
The release further clarified that hiring of buses by the Corporation is not new and is in vogue for the past two decades. By introduction of private buses, no employee of the organization would be displaced.
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