Punjab: Increase in bus fare to add Rs 72 lakh per month into PRTC coffers
This is the second time that the government has increased bus fare this year. Earlier, the SAD –BJP government increased it by two paisa per km (from 97 paisa to 99) in January.Updated: Jun 18, 2017 10:51 IST
The decision of the Punjab government to increase bus fare by three paisa per km, though makes bus travelling costlier, but will help cash-strapped Pepsu Road Transport Corporation (PRTC) to improve its fiscal condition as the corporation will generate a revenue of at least Rs 72 lakh per month. It will add Rs 2.4 lakh per day to its daily revenue receipt of Rs 1.15 crore.
This is the second time that the government has increased bus fare this year. Earlier, the SAD –BJP government increased it by two paisa per km (from 97 paisa to 99) in January.
However, with the fresh increase, the travelling cost in ordinary buses is pegged at Rs 1.02 per km, while the fare of heating, ventilation and air conditioning (HVAC) buses is Rs 1.22 per km, which is 20% in excess of the ordinary buses. Meanwhile, those travelling by integral coaches have to pay Rs 1.83 per km, while the charges of a super integral coach will be Rs 2.04 per km, which is double the fare of the ordinary buses.
PRTC managing director Manjit Singh Narang said the additional income of Rs 2.4 lakh per day will be a boon for the corporation, helping it bring down the gap between its income and expenses.
“The gap between the PRTC’s income and expenses is pegged at around Rs 1 crore per month. With increased fare, we are going to generate around Rs 72 lakh per month, which will help in bringing down the losses to Rs 28 lakh per month,” Narang said.
Narang added that with diesel prices coming down by Rs 1.24, the PRTC is going to have a profit of Rs 1 lakh per day, amounting to the overall additional savings of at least Rs 30 lakh per month.
“Going by the increased fare and reduced diesel prices, the PRTC is going to see an increase of Rs 3.4 lakh per day,” Narang said.
The PRTC has nine depots across the state and has a fleet of a total of 1,075 buses, including 25 HVAC and 12 Volvo buses.
In its recent board of directors meeting, the PRTC decided to add 250 new buses, including 100 buses owned and run by the corporation itself, while remaining 150 buses under the kilometre scheme. The corporation has also got permission to add 40 new HVAC buses into its fleet.
First Published: Jun 18, 2017 10:15 IST