Sources in HRTC said an additional amount of about Rs 12 crore annually would be required for purchase of diesel at the hiked rate for its fleet of 1,800 buses.
The monthly consumption of diesel by state buses is about 30 lakh litre per month, they said. The accummulated loss of the Corporation at present is Rs 470 crore, they said adding the hike in price of diesel has come at a worst time for the corporation.
A senior officer of HRTC said the Corporation would write to the state government to waive Special Road Tax which comes to about Rs 15 crore annually for its buses as a solution or provide special grant to the corporation to meet the requirement of additional money.
The BJP government had recently raised bus fare by 25 per cent in view of huge financial losses of the Corporation.