₹15 crore for initial expenses of the new company
The government on Friday issued orders to constitute KSRTC-SWIFT, a legally independent company for 10 years, for operating long-distance buses efficiently, among other things.
The government also provided ₹15 crore for initial expenses of the new company that will have an approved share capital of ₹100 lakh. The Chairman and Managing Director of the Kerala State Road Transport Corporation (KSRTC) will be ex officio CMD of the new firm also.
Revenue from the KSRTC-SWIFT will be made available for the needs of KSRTC employees and for repayment of loans taken by the KSRTC from KIIFB.
The KSRTC-SWIFT will function for the purposes of new buses that will be procured with ₹359 crore from KIIFB. The new 310 CNG buses, 50 electric vehicles, 190 JnNURM buses, 29 Scania Volvo, and 18 wet leased Scania will form part of the new company.
A GPS and AI assisted control room at the Anayara depot of the KSRTC here will take care of the operations. The long-distance buses will operate from here and feeder and courtesy services will be provided from five KSRTC depots, including Peroorkada, Vikas Bhavan, Pappanamcode, Enchakkal. In addition to the North, Central, and South zones of the KSRTC, the KSRTC-SWIFT will be the fourth independent profit centre.
The KSRTC-SWIFT will not have depots and workshops. All employees will be on contract basis. It will provide user fee to the KSRTC for utilising its facilities.
Source: Read Full Article