Hyderabad: Recently there have been charges stating that Megha Engineering company is absorbing central government’s subsidy for electric buses. In fact, there are a total of 10,460 buses in the Telangana RTC. Out of them, only 8,320 are RTC’s owned buses. The remaining 2140 buses are running on a lease basis. Of this, only 40 electric buses are run by Olectra Greentech, a subsidiary company of Megha Engineering. Of the total RTC buses, the Olectra buses share is only 0.48 per cent. Is it possible that, with these minimal number of buses, can Olectra earn crores of rupees in profit? Interestingly, Olectra is running electric buses to the airport for the last 7 months only.
RTC has been incurring losses every year for the past many years. Is it convincing that Olectra, which is operating only 40 buses on a wet lease, is the main reason for these losses?
It is not true that the losses are because of the leased buses. For the past three decades, RTC has been running buses on a lease basis and every year they have been incurring losss to the tune of Rs. 1200 crore every year on average. The main reasons for these losses are increasing fuel costs, no subsidy for fuel and a Rs. 5 crore debt burden is the main reason for RTC losses.
The latest allegations now are that the 40 buses purchased from Megha Engineering subsidiary company Olectra Greentech is the main reason for RTC losses. The fact is that RTC did not purchase the electric buses. These electric buses are running on a gross cost contract basis, which prescribed the government of India regulations. The government of India is giving only Rs. 20 crores as an incentive for these buses. that too Rs. 50 lakh per bus. As RTC cannot purchase, it is decided the electric buses run on a wet leas basis.
In this background, how Megha Engineering has anything to do with the strike is known best to those who allege its responsibility in the.