Jammu, May 3: Pulling up Jammu and Kashmir State Road Transport Corporation (SRTC) for its negligible share in public transport and huge losses, the CAG report has recommended public private partnership (PPP) and constitution of a regulator to help revive the sector.
 "The corporation's share in public transport was negligible and stood around three percent during the period of review from 2004-05 to 2008-09," the Comptroller and Auditor General (CAG) of India report filed in the state assembly recently said.
 The Corporation, which has a fleet of 1,113 vehicles, including 677 buses and 436 trucks, as on March 31, 2009, recorded an average of 18,000 passengers being carried in buses per day.
 Its share in the passenger transport activity was a negligible 0.11 per cent of the state's population during 2008-09, the report said adding the turnover of the Corporation was Rs 51.47 crore which was equal to 0.16 per cent of the State's Gross Domestic Product (SGDP).
 The report has recommended formulation of fare policy, arrears clearance, constitution of a regulator on fare and services, operation of routes and schedules, creation of management information system, increase in board meetings, replacing the old fleet and monitoring performance on monthly basis to bring back the ailing corporation on the rail.
 It also rapped the Corporation for failure to maintain
 separate records for bus and truck operations. Its accumulated loss was Rs 465.50 crore while borrowing stood at Rs 354.32 crore as on March 31, 2009.
 523 buses (77 per cent) of its 677 fleet are above the permissible service year of eight. Fleet utilisation at 60 per cent in 2008-09 was below all-India average of 92 per cent, the report said.
 The SRTC is suffering losses mainly due to its high cost of operation and decrease in revenues.
 The report has recommended that the PSU consider devising a policy for tapping non-conventional sources of revenue by undertaking PPP projects as Corporation has 2.65 lakh square meters of land for future development.

Lastupdate on : Mon, 3 May 2010 21:30:00 Makkah time
Lastupdate on : Mon, 3 May 2010 18:30:00 GMT
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