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| J&K restructuring SRTC following mounting losses | | | Early Times Report
SRINAGAR, Oct 20: State government has constituted five-member committee for early restructuring of Jammu and Kashmir State Road Transport Corporation (SRTC), which suffered huge losses during the recent unrest in the Valley.
The decision to constitute the committee to recommend measures for restructuring of the corporation and frame recruitment rules for future was taken at a meeting of the board of directors presided by Transport Minister Qamar Ali Akhoon here yesterday, an official spokesman said today. Economic Advisor Jalil Ahmad Khan will head the committee, the spokesman said.
Minister assured budgetary support to the Corporation to overcome losses it suffered due to the unrest in the Valley."Government is keen to increase SRTC operations and make it a profitable company," he said, adding to make the Corporation viable, consultations with Himachal Pradesh, Karnataka and Andhra Pardesh were going on.
"We are contemplating purchasing many more buses to augment the existing fleet with a view to provide hassle free transportation to the citizens of the state," he said. Emphasizing on proper exploitation of the Corporation’s assets to improve its financial health, the meeting called for mopping up resources for making it viable and vibrant, the spokesman said.
Board also approved setting up of five ''profit centers’' under the supervision of concerned General Managers to take appropriate decisions in the interest of company. The board directed the management for submission of quarterly financial achievements and it was decided that the board of directors will meet after every three months to take stock of the overall functioning of the Corporation, he said.
In response to various demands of employees, spokesman said that board has decided to regularize services of those employees who have completed eight years on consolidated arrangement. The board also decided to take a final decision regarding implementation of the recommendations of 6th Pay Commission for the Corporation employees in its next meeting, scheduled to be held in Jammu by December this year, he said. He said the board decided to release 126 pending Cost of Living Allowance (COLA) slabs to its employees.
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