The Kerala State Road Transport Corporation (KSRTC) is in a severe financial crisis and the utility may have to lay off a section of employees if there is no major turnaround in situation in the coming days, Transport Minister Antony Raju said on Tuesday.
Stating that the salary of employees cannot be disbursed on time if the crisis continued, Mr. Raju said the increase in fuel prices had crippled the revenue of the corporation.
He said the KSRTC would have to spend an additional ₹38 for a litre of diesel it purchased now compared to the diesel price in December. This had resulted in an additional expenditure of ₹40 crore for fuel alone.
