Hyderabad – The Telangana State Road Transport Corporation (TSRTC) is preparing to mortgage the historic Gowliguda Bus Stand, spread over 5.8 acres in the heart of Hyderabad, to raise ₹400 crore from HUDCO as collateral-backed loans.
The move comes amid mounting financial pressure on the corporation, which, according to employee unions, is struggling to stay afloat due to the Congress government’s free bus travel scheme. While the government has touted TSRTC as a profit-making entity, employee associations are questioning why valuable assets are being mortgaged instead of receiving adequate state funding.
Sources within the corporation say that the delay in releasing funds for the free bus scheme has worsened cash flow issues, leaving TSRTC unable to pay salaries to its staff and meet benefits obligations for retired employees. The proposed mortgage, officials say, is intended to bridge this gap and ensure timely salary disbursement.
Union leaders are demanding clarity from the government on how much funding it intends to provide for the scheme and accusing it of sending mixed signals—boasting about RTC’s profits while simultaneously resorting to asset pledges.
TSRTC officials estimate that the corporation needs at least ₹11,000 crore to fully clear its debts and restore financial stability.
The plan to mortgage one of the city’s oldest transport hubs has sparked strong reactions, with unions warning that continued financial strain could push the corporation into a crisis from which it may not recover.
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