The financial aid came as a breather to the corporation as the oil companies denied KSRTC fuel thanks to the payment dues.
Thiruvananthapuram: State government on Saturday provided Rs 20 crore to Kerala State Road Transport Corporation (KSRTC) to manage expenses related to buying diesel. The financial aid came as a breather to the corporation as the oil companies denied KSRTC fuel thanks to the payment dues.
KSRTC fell into a dire financial crisis after the board utilised its funds to pay the salaries of employees as HC had ordered timely payment Meanwhile, the oil companies refused to supply diesel until KSRTC paid Rs 13 crore dues. Following this, KSRTC cut down 50 per cent of ordinary services will be shut down on Sunday. However it kept long-distance, remote and inter-state services running.
Following this, KSRTC sought the help of the state government and Rs 20 was allocated for the same.
The government-owned Indian Oil Corporation (IOC) had told the Supreme Court that KSRTC has dues of Rs 139.97 crore to the company.
KSRTC has not purchased from IOC since it ordered differential pricing for retail and wholesale customers. Currently, KSRTC is buying fuel from retail petrol pumps, IOC said in its affidavit in the case filed by KSRTC against the price hike.
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