JK SRTC suffers loss of Rs 1639 crore, needs to be overhauled
CS AK Mehta can revive it!
During the tenure of AK Mehta IAS as MD JK SRTC the corporation had recovered must but after his it again on losing wicket.
Only Chief Secretary AK Mehta’s personal intervention can save the corporation otherwise it will meet the same fate as JK Cement Factory of the government.
Jammu, Jan 30: Why the Jammu & Kashmir State Road Transport Corporation popularly known as J&K SRTC always runs in losses? Why all the Managing Directors of JK SRTC appointed time to time are proved ineffective except one AK Mehta who is presently Chief Secretary? Who will arrest the losses incurred in the JK SRTC as it is being running in loss for last so many years? What method should be adopted to make the JK SRTC vibrant and profitable? Who can take out the JK SRTC from severe losses? Why the deadwood employees are still in the JK SRTC? Why not the sitting MD should be shown door for his inefficiencies and incapability to run the JK SRTC? These are some hard hitting but very relevant questions for the government and Transport department to come out and reply to these quarries.
The Performance Report of CAG indicates that the present set-up is completely failed to take out the JK SRTC from losses and the amount of loss has been credible increased in many folds. The CAG report said that despite 20 per cent increase in Paid up Share Capital from Rs 204.74 crore in 2014-15 to Rs 245.57 crore in 2018-19, there was 33 percent increase in accumulated losses from Rs 1229.56 crore to Rs 1639.01 crore which indicated that capital infused by the government not effectively utilized by the Corporation.
It is not first time that JK SRTC has been running through losses but when incapable and ineffective, besides corrupt persons have been engaged in the Corporation then the loss is sure. The present set up is not capable and even effective, so how one can expect the profit from the corporation.
The salary of the Managing Director and other senior officers of the JK SRTC like General Managers, Managers and other be stopped and the loss incurred during their period might be recovered from their salaries. Whereas, their expenses incurred from the account of the JK SRTC should be recovered from their provident fund. These people must be packed and thrown out from the Corporation by declaring them deadwood employees.
The state exchequer has been squeezed by them and they must be declared as blood sucker, so that people may understand their real face. They must be publicly exposed over this issue.
I will make more startling revelations in the coming days so you are requested to keep reading Jammu Jottings to get-in the actual position of JK SRTC and real face of its officers. (Daily Jammu Jottings)