Home / Goa News Highlights / KTC’s revenue rises by Rs 264 lakh in last 2 yrs

KTC’s revenue rises by Rs 264 lakh in last 2 yrs

Panaji: Kadamba Transport Corporation Ltd (KTC) continues to suffer losses though its revenue has increased by Rs 264 lakh in the last 2 years.

In 2017-18, the deficit rose 6 per cent from the previous year, fuelled by the increase in operational cost, wage revision, diesel price increase and non-revision of fare for the last 6 to 10 years.

According to the annual report that was released on occasion of 38th anniversary celebration of the corporation, the overall income is almost the same as the previous year, up by 1.5 per cent, but the losses more than doubled to Rs 1,103.50 lakh as compared to Rs 353.10 lakh in the previous year.

In 2016-17, out of the total income of Rs 16,704.33 lakh earned per kilometre, the corporation has spent Rs 17,057.43 lakh with 2 per cent revenue deficit, which is less as compared to 6 per cent loss incurred during 2017-18.

The corporation, in 2017-18, earned income of Rs 16,968.69 lakh, and spent Rs 18,072.19 lakh posting a deficit of 6 per cent.

The traffic earnings of Kadamba buses was Rs 55.25 per km during 2017-18 but the cost to run the buses increased to Rs 58.84 per km with the difference of running cost of Rs 3.59 paise per km. In 2016-17, the difference between earnings per km and cost to run per km was Rs 1.18 paise.

The fare structure in the state carriage and city buses has not been revised in the interest of the public since November 2011 and March 2013, respectively.

The total loss suffered by KTC due to frequent breakdown of buses is Rs 22.20 lakh in 2017-18, losing out 48000 km trips at Rs 15 per km. Every year, the KTC has been facing a deficit budget. But, in 2015-16, it was a surplus budget of Rs 5.19 crore because the government had released more subsidies amounting to Rs 60 crore to commensurate with social obligatory service.

The state-owned buses have accounted for nearly 165 major accidents, 49 minor accidents and 15 fatal accidents on both interstate and intrastate routes between April 2015 and March 2018. According to the KTC, the breakdown rate is 1 per 40,000 km, which is well within the limit and there are not much frequent breakdowns of buses during day- to-day transportation.

According to the KTC, 93 staffers are due for retirement in 2018-19, and the approximate liability on account of these staffers is Rs 900 lakh towards leave encashment and gratuity.

Vasco MLA and chairperson of KTC Carlos Almeida while speaking at the 38th anniversary celebration of KTC held at Panaji Bus Stand, said, “Completion of the bus stands at various places in Goa and welfare of our employees is what we are focusing on at the moment.”

He spoke about how the fleet of KTC buses has grown over the years, and highlighted the achievements of the KTC. [NT]

About admin

Check Also

Joshua to carry his father’s legacy forward

Mapusa: The former Mapusa MLA’s son, Joshua D’Souza who vouched to live up to his …