Daijiworld Media Network – Belagavi (MS)

Belagavi, Jul 14: Raju Kage, chairman of North West Karnataka Road Transport Corporation (NWKRTC), has announced an imminent hike in KSRTC bus fares due to escalating prices of petrol and diesel.

Addressing media persons, Kage stated, “NWKRTC is facing financial losses. The cost of diesel and spare parts has significantly risen. Bus ticket fares have remained unchanged for the past decade. We are grappling with losses compounded further by the Shakti scheme. However, we are managing.”

Kage acknowledged the Shakti scheme as a contributing factor to the corporation’s financial strain. He outlined plans to lease corporation assets and renovate old buildings for rental income to bolster finances.

“I have recently assumed the presidency of NWKRTC. Since taking office, we have procured 375 buses. We are actively addressing issues related to the Shakti scheme and organisational efficiency. Previously, buses were retired after 10 lakh kilometers; now, they are operational up to 12-14 lakh kilometers. We are addressing this issue to restore profitability. There is a demand for Volvo buses on routes such as Athani-Pune, Athani-Bengaluru, and Athani-Hyderabad, which necessitates new acquisitions,” added Kage.

Responding to queries about his resignation, Kage clarified, “The welfare of society is paramount to me. Hence, I expressed readiness to resign. There is no need to misinterpret my intentions.”

Meanwhile, speaking to reporters in Tumakuru, S R Srinivas, president of KSRTC, highlighted the recent developments, “Following a recent board meeting, we have proposed a fare hike to the government. The last fare adjustment was made in 2018. With the surge in fuel prices, a fare hike is unavoidable. We are also due to revise employee salaries in 2024, which necessitates the fare adjustment.”

Srinivas emphasised that periodic fare adjustments could have preempted the current financial challenges. KSRTC reported a loss of Rs 295 crore in the last quarter alone. Plans to purchase 40 new Volvo buses have been submitted to the government, alongside the procurement of 600 general buses, he said.

“The proposed fare increase ranges between 15% to 20%, pending approval from CM Siddarmaiah. While male passengers will face increased burdens, women under the Shakti Scheme will have their fare increases subsidised by the government. For KSRTC to sustain operations, fare adjustments are inevitable,” Srinivas added.