BEST to get One thousand crore interest free loan

 Mumbai
BEST to get One thousand crore interest free loan

The BMC is working on a plan to rescue the loss-making BEST with a financial impetus of an interest-free loan of 1000cr. This decision was taken in the meeting presided by the Mayor.

This decision was taken in view of the delay caused in disbursing salaries of BEST employees as the city transport major is running in huge losses. Earlier the BEST had received a special grant of 1600 Cr out of which 900Cr have been disbursed. The interest on this grant has also been waived off.

Congress leader Ravi Raja suggested that BEST should close down their AC services to reduce the losses. He added that since BEST caters to the financial capital of the country, the state government should also bear the financial load and help BEST. BMC is the only local autonomous body which runs a city public transport system on its own, while in all the other cities, such services run with the financial support of the state government.

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