Corporation says that the obstruction was due to internal problems in the transport department

KOCHI: KSRTC informed High Court that the delay in the distribution of pension was due to internal problems in the transport department and that the pension for the month of March would be paid within ten days. The single bench ordered Chief Secretary VP Joy and Transport Department Secretary Biju Prabhakar to appear in person today and give an explanation. Justice Devan Ramachandran stated in the interim order that it is hoped that they will explain how and when the pension amount will be distributed.

Transport pension: Finance department agrees to pay pension till June

THIRUVANANTHAPURAM: The Finance Department will hand over the pension amount till June for the KSRTC retirees to the Co-operative Bank Consortium. It has been agreed at the government level to consider the request of the Cooperation Department to increase the interest rate after that. The High Court had directed the Chief Secretary and the Transport Secretary to appear in person if the KSRTC did not pay the pension immediately. It is in this context that the government has taken action.

The consortium of co-operative banks already exists to provide KSRTC pensions and a loan was sanctioned through this consortium at an interest rate of 8 percent. However, as the Reserve Bank has raised interest rates, the Cooperatives Department informed the Transport Department that it will not be able to provide loans at an interest rate of 8 percent. Then the file regarding this issue was left for the consideration of the Chief Minister. Based on the discussions held by the ministers, it was decided to give the pension amount till June to the consortium of cooperative banks. Pensioners have two months of arrears and the monthly pension alone costs Rs 65 crore.