KCR sanctions Rs. 300 crore for RTC

Chief Minister K. Chandrashekar Rao has directed the Finance Department to release Rs. 300 crore to help the Telangana State Road Transport Corporation (TSRTC). He also asked the officials to help RTC secure Rs. 350 crore loans to purchase new buses.

KCR on Thursday held a review meeting to discuss measures to revive the RTC. The meeting was attended by Transport Minister P. Mahender Reddy, RTC Chairman S. Satyanarayana and other senior officials. He asked the officials to release the pending amount towards subsidy for school bus passes. The GHMC has agreed to bear losses to the tune of Rs. 190 crore. The remaining burden would be shared by the State Government.

The Chief Minister asked the officials to revive the corporation with the financial assistance being extended by the State Government.(INN)