Facing over ₹100-crore losses during the lockdown, Pepsu Road Transport Corporation (PRTC) is on the path to recovery as its daily receipts have crossed ₹1 crore for the first time after easing of travel restrictions.
For the past one week, PRTC’s daily income is pegged between ₹1-1.2 crore. Before the lockdown was imposed due to the Covid pandemic, it earned around ₹1.4 crore daily.
PRTC managing director Jaskiran Singh said the increase in revenue has come as a great financial relief to the corporation, which is now managing to cope with operational losses incurred in the recent months.
“We have restarted buses in a phased manner. Buses are being sanitised daily, and we have managed to convince people that they can board them without any fear of contracting the virus,” said the MD.
At present, the corporation is running 90% of its fleet of 1,125 buses.
In the first 60 days of the lockdown, the corporation had incurred losses to the tune of ₹51 crore, with daily losses pegged at ₹85 lakh. Even after resuming operations on May 18, PRTC was finding it hard to meet its committed expenditure due to low occupancy.
The corporation had also sought ₹90-crore bailout package from the Punjab government to compensate for the losses.
{{/usCountry}}The corporation had also sought ₹90-crore bailout package from the Punjab government to compensate for the losses.
{{/usCountry}}“We are yet to receive any response from the state government,” said the MD.
Nirmal Singh Dhaliwal, convener of the PRTC trade unions, said it is good sign that the general public has started believing in the corporation’s services, but the state government must help it financially too.
“The government already owes PRTC more than ₹200 crore against the free and concessional facilities it is providing, mainly to police personnel and students,” he said.