KSRTC to mortgage 30 more depots, only few remain, fully trapped

THIRUVANANTHAPURAM: The KSRTC is fully trapped as it is unable to pay its employees’ salaries for the month of April. Despite receiving the government aid, the management still do not have a clear picture about how to arrange the rest of the amount. Although banks were approached for loans, they were not ready to lend money. In a drastic measure, the management is trying to find money by mortgaging 30 more depots. According to reports, the management is actively considering the option. It is expected to fetch at least Rs 400 crores. So far, KSRTC 52 depots are mortgaged in banks.

The KSRTC has taken Rs 3,100 crores through the mortgage of depots. KSRTC has 94 centres with depots, sub depots and operating centres, five regional workshops and a head office. Only a few are left to be mortgaged. If things go like this, then the remaining ones will be close to zero soon. There is no clarity on how these depots will be recovered. Many of the depots are worth crores and are located in popular areas in the city.

Meantime, a decision is yet to be made on the employees’ salary for the month of April. Minister Antony Raju had met with the chief minister to discuss the issue, but to no avail. The minister is of the stance that the government will intervene in the salary issue only if necessary. The unions need not think that they can threaten the government, he said. The CITU leadership had said that they will meet with the chief minister on Wednesday. However, the meeting did not take place. As the KSRTC MD had gone to attend a seminar in Amsterdam, management-level moves on salaries will be delayed. With this, the employees have lost all hopes in the management.