--------------------------------------------------- Do GOACAN a favour, circulate this email to your family members, relatives, neighbours and friends. Help other CONSUMERS to be better informed. ---------------------------------------------------- ------------------------------------ Cash starved KTC to rent out assets -------------------------------------- Kadamba Transport Corporation Limited (KTCL) is banking on its unutilized assets to make money to fend off the financial crisis it has plunged into after implementation of Sixth Pay commission to its employees.
KTC Chairman Deepak Dhavalikar said that Goa State Infrastructure Development Corporation (GSIDC) has been asked to submit a feasibility report to rent out the properties on Public Private Partnership basis to private players. “In the beginning, we will work PPP model for Panjim and Margao bus stand and properties around it,” Dhavalikar said adding that Chief Minister Digamber Kamat has given his nod for the proposals. “The chief minister has said that the feasibility report would be ready in next two months,” he added. KTCL completed three decades of its existence during Dussehra this year but due to Election Code of Conduct, there was no function organised to mark the occasion. The corporation has thus organized a function on Tuesday at 12 noon to mark the occasion. Dhavalikar said that even if corporation plugs all the revenue leakages, it is difficult for them to come out of red. “In this situation, we are left with the option to look at our assets to earn revenue,” he said. The chairman said that other state transport corporations have opted for PPP models to make up for the financial requirements to run the state-owned transport system. With the implementation of sixth pay commission, the corporation has to shell out additional liability of Rs 1.75 crores per month. The KTCL has been dependent on government funds. The state government has recently paid Rs 4.50 crores to the corporation rather then paying Rs 3.75 crores to purchase 20 buses under Jawaharlal Nehru National Urban Renewal Mission (JNNURM). Dhawalikar said that the corporation is supported by state government as and when they require finances but it has also inherited a loan liability of Rs 40 crore to Rs 50 crore to the Goa State Cooperative Bank, which is making dent into the earnings. “Once we sign PPP, we will ensure that the existing shopkeepers and offices are given proper spaces. There will be no burden on common man,” the chairman said. “At later stage, KTCL will lease out rest of its unutilized lands to big builders for the construction of malls, hotels and for other purpose,” Dhawalikar said. KTCL since beginning had been planning to provide Ticket Vending Machines to their conductors along with launching of interstate online ticketing facility to the public. Chairman feels that this will control duplications of tickets, which leads to loss of revenue. “The functioning of both will begin in next couple of months,” he said. ----------------------------- HERALD 21/12/10 page 2 ----------------------------- ---------------------------------------------------------- GOA CIVIC AND CONSUMER ACTION NETWORK ---------------------------------------------------------- promoting civic and consumer rights in Goa ---------------------------------------------------------- GOACAN Post Box 187 Margao, Goa 403 601 GOACAN Post Box 78 Mapusa, Goa 403 507 mail: *goa...@gmail.com* Visit: *http://goacan.blogspot.com *----------------------------------------------------------