Rising diesel prices amid stagnation in revenue have pushed the liabilities of the four state-run road transport corporations (RTCs) to a whopping Rs 4,794.4 crore as the government looks forward to asset monetisation to support the corporations.
The matter was placed before Chief Minister Basavaraj Bommai during a review meeting of the Transport Department’s implementation of the programmes announced in the budget.
The officials told Bommai that the financial crisis, caused by the pandemic, has worsened since March when the diesel prices were hiked by Rs 25 for bulk buyers.
The RTCs are the lifeline of Karnataka’s public transport system.
