KTC: Revenue up by 8 pc in Jan
If the proof of the pudding is in tasting, despite the hiccups, Kadamba Transport Corporation has upped its revenue by 8 per cent in January alone, due to the monthly pass scheme and well…possibly due to the e-ticketing machine.
If wonders how this could have happened despite public ire at the slow pace of issuing tickets through the e-ticketing system, KTCL stated that this was due to plugging of leakages due to e-ticketing and migration of passengers who used to routinely travel by private buses due to the pass system.
“Compared to January 2012, this year for the same period, there is 8 percent rise in revenue,” KTCL Deputy Manager S L Ghate said.
The pass scheme, effective from January 1, has attracted around 5000 passengers, while 150 applications are received on a daily basis. The e-ticketing system was also introduced on January 1.
Ghate said that revenue will increase in ensuing days as the corporation expects to issue around 40,000 passes by mid 2013. “We are expecting increased passenger inflow of 15 to 20 per cent,” he added.
The corporation for last couple of years has been reeling under heavy financial loss and had been seeking subsidy from the government. Several steps such as increasing number of routes and buses, were taken to overcome the crisis. KTCL’s woes aggravated with the introduction of Sixth pay commission in 2010, when it brought in an additional liability of Rs 43 crore and monthly liability of Rs 1.3 crore by way of employees salaries.
Total financial loss incurred by KTCL for 2011-12 has been Rs 14 crore while for 2010-11 it was Rs 13 crore and Rs 14 crore in 2009-10.
It is learnt that state has been funding KTC to the tune of Rs 12 crore annually as a social responsibility. The funds were made available in form of share capital (Rs 5 crore), subsidy (Rs 7 crore) and grants-in-aid (Rs 1 crore). [H]