Accumulated Losses
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Home / Andhra Pradesh News / 2008 / April / April 2, 2008
APSRTC unveils action plan to wipe out accumulated losses
APSRTC

State Government bans strike in APSRTC
Ban to last initially for a period of six months

Financial crisis drives APSRTC to hike fares
New fares to come into effect form Wednesday midnight

APSRTC union calls off strike
Talks fruitful and management agrees 24 percent wage hike

Transport Minister holds discussions with the APSRTC and JAC
Mini vans to ease impact of strike

APSRTC unveils action plan to wipe out accumulated losses
Leasing out old APSRTC head office to private developers on BOT

APSRTC union elections on Thursday
Nearly 1.17 lakh employees to cast vote in the elections

NMU on victorious side in APSRTC Employees Union elections
Polling held in 202 RTC Depots across the state

FM Radio and phone facility on APSRTC Busses soon
Bus services in East Godavari region to be equipped services from Ugadi

CPI State Secretary demands Government to stop hiring of buses
Threatens to stop APSRTC hired private busses move

High Court dismissed writ petition filed by APSRTC Employees Union
APSRTC proposal of hiring of private buses gets nod

APSRTC to observe Road Safety week from January 1
Aims to create awareness

APSRTC denies move to privatize services
Clarifies that the corporation does not have funds to purchase buses

MSR assumes charge as Chairman of APSRTC
Says it is not a political rehabilitation

Former Minister M Satyanarayana Rao appointed APSRTC Chairman
Orders issued on Tuesday evening to this effect

State Government to enhance bus fares
Finance Minister announces Government subsidy

APSRTC defers hike in the bus fare
Says CM not keen on fare hike

APSRTC pacts MoA with UMTC
To upgrade the bus terminals and providing better amenity facilities to commuters

APSRTC proposes bus fare hike
Rural services however to remain exempted

RTC to run 816 special buses from Hyderabad
Bus Pass Counter to remain closed on October 21

APSRTC staff oppose hiring of buses
To hold demonstrations against the Corporation's move

More features on APSRTC

Top News

APSRTC unveils action plan to wipe out accumulated losses

Leasing out old APSRTC head office to private developers on BOT

Hyderabad, April 2, 2008

After earning profits for the second successive year, the Andhra Pradesh Road Transport Corporation (APSRTC) has unveiled an action plan to wipe out the accumulated losses to the tune of Rs.1,398 crores. While the profits were around Rs.40.49 crore during 2006-07, it has increased to Rs.135 crore during the year 2007-08. The APSRTC has projected a profit of Rs.250 crore. With the cash registers ringing, the Corporation has dropped its proposals to hike the bus fare in near future.

The action plan include leasing out the old APSRTC head office to private developers on Build, Operate and Transfer (BOT) basis for 33 years by which the Corporation would be able to generate a revenue of Rs.1,600 crore. Tenders for developing the old office site spread over 10 acres at a cost of Rs.500 crore have been invited and the bids will be finalized within fifteen days. Multiplexes, reservation complexes, food courts and bus terminals will come up in the area. The experiment will be replicated in 41 places across the State.

Speaking to media today, the APSRTC Vice Chairman and Managing Director, V Dinesh Reddy said that the 'Palle Velugu' buses, which were introduced in rural areas last year has been received well and the occupancy ratio has gone up to 72 percent during the year. Of these, 20,000 odd buses in APSRTC, nearly 12,000 are Palle Velugu services. He said by introducing Air Conditioned buses in Hyderabad, the APSRTC was targeting the car owners. He said that the Corporation will introduce 'Anywhere to Anywhere' service by which a person can book a ticket between any two places without paying any extra charge.

Speaker KR Suresh Reddy slams Chandrababu Naidu for slur on Chair
Opposition leader was seriously reprimanded by Speaker

ACB officials nabs Panchayat Raj Deputy Executive Engineer
Officials unearthed assets worth over Rs.1.4 crore

APSRTC unveils action plan to wipe out accumulated losses
Leasing out old APSRTC head office to private developers on BOT

April 2 in History

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2 April 2005
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2 April 2006
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