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The Hindu

National

Special Correspondent

₹455-crore KIIFB loan for KSRTC to buy 700 CNG buses

The State Cabinet on Wednesday accorded sanction to the Kerala State Road Transport Corporation to purchase 700 new CNG buses by availing of a ₹455-crore loan from the Kerala Infrastructure Investment Fund Board (KIIFB) at 4% interest.

The decision is seen as a leg-up to the financially ailing public utility which is struggling to pay salary to its employees. Moreover, spiralling fuel costs and a disgruntled workforce have further hobbled KSRTC functioning.

SC/ST welfare

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