"We submitted a proposal to the state government to hike fares by 10-15% to reduce the financial burden after we increased salaries and wages of the employees," APSRTC vice-chairman and managing director N Sambasiva Rao said.
Rao, along with officials, conducted a review on shifting of the APSRTC headquarters here from Hyderabad in view of the bifurcation of Andhra Pradesh.
"The hike in salaries alone has added a burden of Rs 660 crore on APSRTC. Unless the government allows hike in fares, it would be very difficult to run the corporation," Rao said, adding that APSRTC has not raised fares since 2013.
On shifting of its headquarters, he said APSRTC will be operated from Vijayawada from September 1 and that almost all the staff members allocated to Andhra Pradesh post division have agreed to shift their families to Vijayawada.
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He said APSRTC has decided to invest Rs 52 crore this year on passenger amenities. "Bus stations at all important places and particularly at Tirupati, Visakhapatnam and Vijayawada would be developed with all modern amenities for passengers," Rao added.
"We are ready to allow private players to make investments for modernising the bus stations in view of public interest," Rao added.