Maharashtra State Road Transport Corporation likely to borrow ₹2,000 crore to continue operations, pay salaries
The cash-strapped Maharashtra State Road Transport Corporation (MSRTC), which runs buses across the state, hopes to secure a loan of ₹2,000 crore to continue its operations. During the lockdown, MSRTC has suffered a loss of ₹5,500 crore.
State transport minister Anil Parab said on Friday that MSRTC is seeking ₹3,600 crore from the state, but may also borrow from the market.
“I have given a proposal to the state seeking ₹3,600 crore to pay salaries of state transport employees, and for basic operations. Looking at the state government’s [financial] condition, I will not be able to depend on the state alone. Therefore, we are looking at raising funds from the market,” Parab said.
