KSRTC to get Diesel at subsidized rate

Published on: 22 Mar, 2013
Published under: General Kerala News, Kerala Business News

21 march 2013

The Kerala high court on Thursday directed public sector oil companies — Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Limited (HPCL) — to supply diesel to the Kerala State Road Transport Corporation (KSRTC) at subsidised rate.

The transport corporation is currently getting diesel at Rs 62.10 a litre, while the open market rate is Rs 50.30. This has caused cancellation of several services, pushing the corporation into a financial crisis. The daily average collection has dropped by Rs 1-4 crore while the daily loss has shot up to around Rs 3 crore.Petroleum minister Veerappa Moily had advised the chief minister to switch to low-value energy sources like CNG and offered Rs 100 crore for this. The corporation needs Rs 35 crore on a monthly basis for pension alone.

Source – http://www.business-standard.com/article/economy-policy/supply-diesel-to-ksrtc-at-subsidised-rate-kerala-hc-113032100578_1.html

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