APSRTC seeks bank loan of Rs 1,000 crore to clear payment arrears

VIJAYAWADA: Andhra Pradesh State Road Transport Corporation (APSRTC) seeking a bank loan of Rs 1,000 crore to clear the payment arrears to the workers. According to sources, vice chairman and managing director (VC&MD) of APSRTC MT Krishna Babu has told the worker unions who met him on Thursday that the cash-strapped agency has sent a proposal to the government for the bank loan.

The APSRTC has to pay 40% arrears from 2013 wage revision. The APSRTC also has to pay salaries of 15-month strike period to retired employees. On the other hand, the APSRTC also has used up more than Rs 180 crore from the employees’ credit cooperative society.

The worker unions met Krishna Babu with a charter of 18 demands on Thursday. General secretary of Employees Union (EU)Palisetti Damodar said that they had been assured by the VC&MD that the arrears would be cleared as soon as APSRTC receives the loan amount for which proposals have already been sent to the government.

The worker unions also requested Krishna Babu to pay money for their uniform. Earlier, APSRTC used to give uniforms to employees every year but for the last four years, uniforms have not been given to the employees.

On the issue of enhancement of retirement age, the workers demanded that though the orders were issued at a later date, they should be considered from the month of June on the day chief minister Jaganmohan Reddy gave the assurance.