PMC to give PMPML ₹200 crores in operational losses

Standing committee of the PMC has given its nod to the proposal for sharing 60% of the Pune Mahanagar Parivahan Mahamandal Limited’s operational losses

With the standing committee of the Pune Municipal Corporation (PMC) having given its nod to the proposal for PMC to share 60% of the Pune Mahanagar Parivahan Mahamandal Limited’s (PMPML’s) operational losses, an amount of Rs200 crores remains to be paid by the PMC to the PMPML. The PMC standing committee helmed by municipal commissioner Vikram Kumar has approved paying the remaining Rs200 crores to the PMPML.

With the PMPML having incurred operational losses to the tune of Rs696.50 crores in the year 2022-23, chairman and managing director (CMD) Om Prakash Bakoria requested the PMC to share the losses. (REPRESENTATIVE PHOTO)

The PMPML is a public transport utility, albeit loss-making, and the PMC and Pimpri-Chinchwad Municipal Corporation (PCMC) hold 60% and 40% of the PMPML shares, respectively. With the PMPML having incurred operational losses to the tune of Rs696.50 crores in the year 2022-23, chairman and managing director (CMD) Om Prakash Bakoria requested the PMC to share the losses. Sixty per cent of Rs696.50 crores works out to Rs417.90 crores which is the PMC’s share. Out of Rs417.90 crores, the PMC has already paid an amount of Rs200 crores to the PMPML. Whereas, the MC has now instructed the PMC to pay the remaining Rs200 crores in the next eight months.