The four road transport corporations (RTCs) providing transportation to crores of people every day are worried about the rise in the diesel prices at a time when their cumulative losses since 2013-14 have crossed Rs 2,200 crore.
The RTCs, including Bangalore Metro Rail Corporation Limited (BMTC) and Karnataka Road Transport Corporation (KSRTC), are bleeding money ever since the hike in employee salaries in 2016. Hike in fuel prices, last year, further worsened the financial situation of the corporations.
Of the two road transport corporations in north Karnataka, North West Karnataka Road Transport Corporation (NWKRTC) has posted a loss of Rs 140 crore last year, pushing its total losses to nearly Rs 500 crore.
