The Hindu : Andhra Pradesh / Visakhapatnam News : YSR commits Rs. 100 crores for RTC

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Sunday, May 22, 2005

Andhra Pradesh

Andhra Pradesh - Visakhapatnam

YSR commits Rs. 100 crores for RTC

Special Correspondent

Asks corporation to come out with proposals to regain its glory

VISAKHAPATNAM: The Chief Minister, Y.S. Rajasekhara Reddy, on Saturday announced a budgetary support of Rs.100 crores to the Andhra State Road Transport Corporation (APSRTC) and urged it to come up with proposals within a week for regaining its past glory.

At a public meeting to pay homage to Rajiv Gandhi here, he reacted sharply to media reports accusing him of trying to privatise APSRTC and sell its properties.

``Are we responsible for its Rs.1,400-crore liability? For the last five to six years, RTC has been incurring losses. Apart from these Rs.1,400 crores, about Rs.120 crores is paid annually towards interest. The media wants us to reimburse the Rs.1,400 crores. How can I sign in the cheque book for any amount I like? We have to make budgetary provisions for the welfare of the SCs, STs, BCs and others,'' he pointed out.

Only a suggestion

Dr. Reddy said that it was only suggested that APSRTC sell its non-performing assets to come out of the red, stop extending concessions to certain quarters and ask the departments concerned to bear the burden of providing such concessions, if any.

``Even this Rs. 100 crore budgetary support to RTC has to come from others. We have to behave like trustees of the people. It is not our intention to fill our pockets selling the Rs.4,000 crore worth properties of RTC. It was making profits when Janardhana Reddy and Vijayabhaskara Reddy were Chief Ministers. We have to make it profitable again. We have to learn to live in this competitive world drawing inspiration from Rajiv Gandhi,'' he stated.

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