Hyderabad, Mar 13 (UNI) Andhra Pradesh Chief Minister Y S Rajasekhara Reddy today reiterated his government's efforts to extend all support to the State-owned Road Transport Corporation to earn profits.
Responding to his party colleague and RTC Chairman M Satyanarayana Rao's plea to waive RTC's accumulated losses of Rs 1,300 crore, the Chief Minister expressed his inability to straight away give an assurance in view of the financial implications.
While the government was able to write off dues of about Rs 1,800 crore from members of SCs, STs and BCs to various Corporations since there was no financial outflow, he was unable to do so in this case as the RTC owed the amout to commercial banks, Dr Reddy explained to Mr Rao who had a tiff with Transport Minister K Lakshminarayana who intervened.
The Chief Minister pacified Mr Rao by asking his cabinet colleauge to resume his seat after saying that under the Minister's stewardship , the RTC would turn around.
Earlier, Mr Rao praised Dr Reddy for his magnanimity and wanted the Chief Minister to consider the demand in the interest of the RTC on which different sections were dependent.
Recalling the steps taken by the Congress Government to put the loss-making RTC on tracks, Mr Lakshminarayana said the government's decision to fully reimburse the concessions extended to various sections by the corporation had reduced its burden by Rs 440 crore.
The services of as many as 3,750 casual labourers were regularised and a Rs 180 crore benefit given to the RTC by reducing the Motor Vehicles Tax.
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