The Brihanmumbai Electric Supply and Transport (BEST) has emerged as the most sought out public transport service after it slashed down its ticket prices. However, BEST Corporation has been reeling under financial losses and debts, which has resulted in a headache for the transport wing.
Therefore, in order to aid the corporation, the Brihanmumbai Municipal Corporation (BMC) has decided to provide financial assistance of ₹1,200 crore to BEST to ease its fiscal loss. Corporators across party lines have given a nod to this plan.
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So far, BEST has been under a burden of ₹2,500 crore debt, and banks have not been sanctioning loans. However, since BEST has come under the purview of BMC, the latter has a responsibility to assist it.
Earlier, former BMC commissioner Ajoy Mehta had posed an indifferent stance on this issue, leaving the bus company stranded. However, as Praveen Pardeshi took over as the BMC chief, it was decided that ₹100 crore financial aid will be provided on a monthly basis to BEST for its smooth functioning.
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In the meantime, the leader of opposition in BMC, Ravi Raja said the decision to give ₹1,200 crore was unanimously approved by all party leaders in the recent meeting.
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