Once on the verge of closure, PRTC now on road to recovery
In 2016, the PRTC’s daily receipts had touched a maximum of Rs 1.04 crore, while this year the figure has gone up to Rs 1.21 crore so far.
Once a cash-strapped body, the state-run Pepsu Road Transport Corporation (PRTC) has been on the right track, both financially and institutionally, ever since the Congress government came to power in March this year.
With increase of at least Rs 17 lakh in its daily receipts, the corporation has managed to strike a balance between its monthly operational earnings and expenditure. At present, the PRTC’s monthly receipts are calculated at Rs 41.12 crore, while its monthly expenditure is pegged at Rs 40.45 crore, including on diesel and maintenance of buses.
In 2016, the PRTC’s daily receipts had touched a maximum of Rs 1.04 crore, while this year the figure has gone up to Rs 1.21 crore so far. Moreover, with streamlining of its time table to increase its occupancy on monopoly routes, the PRTC has made all possible efforts to save itself from the verge of extinction.
“Besides tapping monopoly routes, the image-building of PRTC among people helped the corporation to generate sizeable income so far,” said Manjit Singh Narang, PRTC managing director (MD).
“With present financial figures, we are managing to clear salaries of employees on time, besides clearing pending dues,” he said.
RUNNING FULL FLEET OF 1,073 BUSES
For the first time in past one decade, the PRTC is running its full fleet of 1,073 buses under its nine depots –Ludhiana, Kapurthala, Chandigarh, Patiala, Bathinda, Budhlada, Barnala, Faridkot and Sangrur.
In May this year, the PRTC board of directors gave a green signal to add to its fleet 250 new buses, including 100 owned and run by the PRTC. The remaining 150 buses were to be run under the kilometre (km) scheme. Of the total 250 buses, the corporation has already added 150 buses under km scheme, while replacing the same number of buses with new buses.
“The new buses under the km scheme have already started operating on different routes. The PRTC’s self-financed 100 buses will be added by next month. All the formalities related to their purchase and making are completed,” Narang said
RELEASE OF GRANT
The PRTC’s financial health had got a shot in the arm after the state government released the much-awaited funds of Rs 28 crore in October. Narang said with the release of grant, the corporation has managed to clear its decade-old dues of superannuated employees.
“The dues of pensioners of the corporation in 2014 had crossed Rs 100 crore, which dropped to Rs 28 crore in the past three years. Now, the corporation owes around Rs 15 crore to its employees,” he said.
