Government plans to hike RTC fares
Sep 14, 2012, 20:04 IST
Government plans to hike RTC fares
Even as the state government struggles to cope with the hike in diesel prices on one side, it is ready to burden the masses by making travel by APSRTC dearer on the other. Kiran Kumar Reddy's government is all set to increase bus fares by 10 to 12 per cent.
The APSRTC is already facing a severe financial crisis and its losses have touched a whopping Rs 2,700 crores and with this proposed increase the RTC will incur further losses.
With the increased diesel prices, it will lose Rs.340 crores every year.
When diesel prices were increased last year, the APSRTC bus fares also went up by 8.68 per cent.
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