Hit by the novel virus, Hyderabad Metro Rail is facing huge losses and has approached the Telangana government for assistance. Before the lockdown in March 2020, Hyderabad Metro was earning Rs 8 crore per day which was a good source of revenue.
But then the situation altered once the lockdown was announced. The Hyderabad Metro authority reportedly spent Rs 50 crore every month for the maintenance of trains and salaries of the employees. In the first lockdown, the Metro posted Rs 200 crore loss.
From September 2020, Metro hit the stations but there were restrictions on passengers. Since then the Hyderabad Metro earned less than Rs 1 crore and in the second wave, the metro was shut for nearly one and half months. From April to June, the Metro posted Rs 400 crore losses which is double than the first wave.
Post the second wave, the Metro is facing a loss of Rs 5 crore per day and with the losses piling up, the Metro authority (L&T) approached the Telangana government. The Metro authority met CM KCR recently and urged for help.
CM KCR has reportedly asked the L&T and government to prepare a report in the incentive plan as per the agreement between state government and L&T before developing the metro.
It needs to be seen how the Telangana government deals with Metro’s revival plan. But once the virus is completely gone, the good old days for Metro will certainly be back.
This post was last modified on %s = human-readable time difference 3:59 pm
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