KSRTC in deep financial crisis

THIRUVANANTHAPURAM: The decision of the centre allowing public sector oil companies to raise diesel prices will be a blow to the KSRTC which is already facing a grave financial crisis.

The centre has also permitted to levy market price from big companies using diesel.

Oil companies handed over a letter to the officials saying that KSRTC is in the list of major consumers.

After an increase of Rs 11.54, the diesel bought for Rs 48.71 will now be charged Rs 60.25 per litre. This will incur an excess liability of Rs 15 crores for the KSRTC monthly.

The corporation is spending a huge amount as salary and pension. The increase in diesel price will be another blow for the KSRTC.