Mumbai: BEST seeks Rs 1000 crore from BMC to tide over its losses

The BEST has also asked the Brihanmumbai Municipal Corporation not to levy any interest on the pending Rs 600 crore loan taken by it, officials said.

| Mumbai | Published: March 28, 2017 3:02:16 am

To deal with its ongoing financial crisis, the Brihanmumbai Electric Supply and Transport (BEST) has asked the civic body to make investments worth Rs 1,000 crores and take few other steps to make the undertaking sustainable in a year’s time.

Officials said the BEST administration gave a presentation at the group leader’s meeting held on Monday about its action plan to deal with the financial losses. Besides asking for the Rs 1,000 crore investment, the BEST has also asked the Brihanmumbai Municipal Corporation (BMC) not to levy any interest on the pending Rs 600 crore loan taken by it, officials said.

The presentation also elaborated BEST’s attempts to cut down establishment cost by not recruiting people after around 3,000 employees retire next year, rationalisation of bus routes, keeping an option of voluntary retirement and setting a benchmark of having 3,500 buses, added the officials. The BEST now has around 4,000 buses.

“The BMC should help out the BEST with investments. The BEST administration should focus more on getting revenue from advertisements and commercial exploitation of its 350 plots in the city,” said Ravi Raja, senior Congress corporator and group leader in the BMC.

Sources said, a meeting has been covened on Wednesday, which would be chaired by mayor Vishwanath Mahadeshwar, to take a final call on the matter.

For all the latest Mumbai News, download Indian Express App