APSRTC to absorb diesel price hike

Visakhapatnam, Jun 14 (UNI) Andhra Pradesh Road Transport Corporation (APSRTC) Vice Chairman and Managing Director Dinesh Reddy today said the corporation had decided to absorb the additional burden of Rs 300 crore resulting from the hike in the prices of diesel.

Addressing the press at the APSRTC Regional Office here, he said under Built, Operate and Transfer (BOT) scheme, the corporation will give on a 33-year lease the Musheerabad Depot in Hyderabad and Maddilapalem Depot in Visakhapatnam for construction of shopping malls and commercial complexes.

The income would be invested in improving infrastructure facilities and for providing better services to the people.

He said the Visakha Region earned the highest profit of Rs 3.05 crore in 2007-08.

Stating the occupancy rate in the state presently stood at 71 per cent, he said proposals for increasing the occupancy rate further was under consideration.

New services would begin from July this year to Bhubaneswar, Puri and Shirdi besides running an additional two buses to Bangalore.

The bus complexes in A and B cities would be developed into modern terminals in the current financial year, he said.

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