NTC incurs Rs 51 million loss
6 April 2011 - the Independent
The National Transport Corporation (NTC) reported losses of Rs 51 million from July 2009 to June 2010. This was stated by minister of Public Infrastructure, National Development Unit, Land Transport and Shipping Anil Bachoo.
He was answering a question by MP Raffick Sorefan.
Bachoo also underlined that during the fiscal year 2009-2010, the government provided a loan of Rs 112 million to the NTC.
The government is helping the NTC because it made several trips that were not profitable.
NTC decided to submit a restructuring plan so that the company would not continue operating under losses. A technical committee is working on this right now, said the minister.
Following a supplementary question by Paul Bérenger about the condition of old buses, Bachoo said that the old NTC buses will be replaced with new ones. On the other hand, Rajesh Bhagwan wanted to know whether the government plans to sell the NTC building in Ebène in order to help the company in this difficult situation. The minister said that negotiations are underway.