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School bus operators declare bankruptcy as EMI on vehicles begins to seriously hurt
PUNE School bus operators have no declared a crisis of complete economic devastation in the wake of the Covid-19 pandemic.
PUNE School bus operators have no declared a crisis of complete economic devastation in the wake of the Covid-19 pandemic.
With schools closed, but all serviceable outgoings still active for bus owners, cue vehicle insurance charges, bus operators are declaring bankruptcy.
Baba Giram, one such operator, said, “We are an unorganised sector. Each operator has either one or two buses. Most of these buses are procured on bank finance. With schools closed there is no income. We are forced to pay the EMIs. Almost all sectors have opened up, but only schools have not started and there no chance of it starting soon.”
Tanaji Salunke, another bus operator, said, “Since March, there is no income, but we have to insure the buses, even though they are standing still. Because buses are idle, maintenance has increased. As the operators are not able to pay EMI’s, financial institutes are threatening to seize the vehicles.”
Nitin Dhole, Nana Kamate and Hemant Kulkarni, a triumvirate of operators, said, “The government must think about our livelihood. All taxes, like professional tax, should be waived. Government must instruct the banks to waive the interest on EMIs for the last few months.”
Rashid Inamdar said, “We tried to tie-up with some companies for employee transport, but most of the companies are doing work from home.”
