March 7, 2011 2:22:44 am
The Ahmedabad Municipal Transport Services (AMTS) has suffered a loss of 50 per cent in the last three years,financial records suggest.
The income in 2007-08,2008-09 and 2009-10 were Rs 109.80 crore; Rs 116.56 crore and Rs 118.32 crore,while the expenses for the corresponding period were Rs 195 crore,Rs 219 crore and Rs 239 crore. The annual loss suffered by AMTS in 2007-08 was Rs 85.20 crore,which shot to Rs 102.44 crore in 2008-09 and to Rs 120.68 crore the following year (2009-10).
The bus service is heavily indebted to the tune of Rs 705.59 crore as of March 2010,of which Rs 628.05 crore is a loan from AMC and Rs 59 crore is Employees Provident Fund dues.
Incidentally,income generated from hired buses exceed that from its own fleet expenses,the records show.
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To add to AMTS woes,262 of the 426 buses in its fleet are more than 13 years old while another 60 are 11 years old. A little more than 100 AMTS buses are less than 10 years old. A bus is generally considered to have outlived its utility on completion of eight years on the road.
Deputy Municipal Commissioner M S Patel,also the transport manager,said the losses are bound to occur in view of financial compulsions like payment of hiked salaries,implementation of wage awards,and capital expenditure. He said hiring buses is more viable than owning and running a fleet,but the balance between the hired and owned buses is a policy decision.
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