New KSRTC chairman and MD Antony Chacko has said that within one year, the corporation will come out of its financial crisis and start making profit.
He said: As of now, the KSRTC is running at a loss of Rs 93 crore. By hiking the bus fare, the department will get an extra income of Rs 15 crore. By transferring the pension liability to LIC, the department will save Rs 37 crore.
“The board had a loan burden at 14.5 percent interest and if the interest is reduced, Rs 27 crore will be saved on that account. After all this, there is a loss of 14 crore and it can be negated if the bus schedules are rearranged so as to generate a daily income of Rs 7 crore,” the MD said.