KCR orders transport, energy ministers to make proposals to recover from financial crisis
Hyderabad: Telangana Chief Minister K Chandrasekhar Rao on Tuesday asked the state transport minister and state energy minister to present proposals at the next cabinet meeting to recover from the financial crisis caused by the COVID pandemic, the chief minister’s office said.
The Minister of Transport, the President of Road Transport Companies (RTC) and other senior officials called on the chief minister to help the RTC emerge from its financial crisis at the high-level review meeting held on Tuesday under the chairmanship of the CM at Pragathi Bhavan, the official residence and main workplace of the CM of Telangana.
Transport officials informed the CM that since the price of diesel has increased by Rs 22 per liter over the past year and a half, RTC has had to bear an additional loss of Rs 550 Crore.
They said that along with rising prices for diesel and gasoline, rising prices for tires, tubes and other spare parts for buses are also pushing RTC into losses.
All of these increased costs place an additional burden of Rs 600 million on the company, officials said.
The CM also discussed the issue of electricity in the state with Energy Minister Jagadeesh Reddy and other officials.
They said that, like all other sectors, the electricity sector was also suffering heavy losses from the COVID pandemic.
Noting that electricity tariffs have not been increased in the past six years, officials said there was no choice but to raise prices in order to put the industry back on track. electricity on the rails.
The CM said that in addition to the RTC’s proposals, proposals for the electricity department would also be discussed at the next cabinet meeting and a decision would be made.