The Andhra Pradesh State Road Transport Corporation (APSRTC) is facing a debt burden of Rs 2,300-crore, a senior official said here today.
APSRTC Vice Chairman and Managing Director J Purnachandra Rao told reporters here today that the corporation is being unable to reduce its debt obligations for various reasons.
He said that strikes and bandhs affect APSRTC's services while hikes in the prices of diesel and spare parts keep adding to the debt burden.
Due to these reasons, the accumulated losses of APSRTC amount to Rs 2,300 crore.
Rao said that rural services presently bring in only 28 per cent of its revenue.
Meanwhile, as to a strike notice issued by a trade union, Rao said that such matters would be resolved through negotiation.
