Boost for MSRTC: Enhanced Fuel Discounts Aim to Curb Losses

State-run oil marketing companies have decided to raise the fuel discount for the financially struggling Maharashtra State Road Transport Corporation (MSRTC) from August 1, according to official statements.

This increase is projected to save the corporation about Rs 12 crore annually. Indian Oil and Bharat Petroleum have agreed to enhance the diesel discount for MSRTC by 30 paise per litre, resulting in a daily saving of approximately Rs 3.23 lakh, totaling Rs 11.8 crore per year, as per the MSRTC release.

The companies consented to the discount hike following advocacy by Maharashtra Transport Minister Pratap Sarnaik, who also chairs the corporation. With over 15,000 buses, the MSRTC consumes nearly 10.77 lakh litres of diesel daily across its 251 depots. The corporation plans to expand its fleet by adding 5,000 buses annually. Sarnaik emphasized the fragile financial condition of MSRTC and the importance of cutting costs and exploring alternative revenue avenues beyond ticket sales to bolster financial stability.

(With inputs from agencies.)