Saturday, September 23, 2017

Will the KSRTC revive after this massive infusion?

The state government has proposed a revival package of Rs.1,922 crores for the KSRTC(Kerala State Road Transport Corporation) and the breakdown of the inflows are as under:-

    (a) Kerala Infrastructure Investment Fund Board      Rs. 831 cr.
    (b) Grant                                                                     Rs. 790 cr.
    (c) Compensation for the travel concession
          provided by the corporation                                 Rs. 211 cr.
    (d) For other projects                                                 Rs.  90 cr.

There is also an attempt by the corporation to take loan of Rs. 3,200 crores from a consortium of banks, at lower interest rates, which is in its final stage(Because in the present situation, after the daily expenses including the repayment of loan there is no revenue left to pay the salary and pension). Currently, the corporation pays Rs. 3.2 cr per day as repayment of loan while it's gonna be Rs. 93 lakhs in the new agreement. The repayment will be carried out over 20 years and the corporation will have to pledge 28 of its depots for the loan!

My take.

While the fund inflows to infuse life into a failed organisation are massive, it's the fact that it caters to the poorest man that defies criticism on such an action. The sad part is that nothing is being mooted about the following:-

     (a) The unacceptable and shoddy work culture prevalent within the organisation.
     (b) Rampant trade unionism that has no positive output.
     (c) The lack of feeling and a sense of belonging to the organisation among the workers.
     (d) Manpower that's far in excess.
     (e) Massive corruption among individual workers through their 'understanding' with their
          counterparts working in the private buses.

The corporation can only become a viable and profitable organisation if the points, mentioned above, are sorted out without fear or favour. Otherwise, any amount of funds being infused will go down the drain! The attitudes need to change otherwise it's a no go!!


Wonder how an average worker of the KSRTC can walk with his head held high when his organisation has been suffering - over the years - thanks to bad leadership and his faulty work ethics?    

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