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TMI BlogAfter two decades, MP govt revives passenger bus service through PPP routeX X X X Extracts X X X X X X X X Extracts X X X X ..... After two decades, MP govt revives passenger bus service through PPP route X X X X Extracts X X X X X X X X Extracts X X X X ..... enient and safe passenger bus transport services on ordinary and rural routes in cities and rural areas was cleared in a cabinet meeting chaired by CM Mohan Yadav. The then BJP government in 2004 shut down the MP State Transport Corporation citing huge losses, creating a vacuum in the road transportation network that was filled by private players. "This model will operate on the PPP (Public Priv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate Partnership) basis," state Transport Minister Rao Uday Pratap Singh said. According to an official, passenger buses will be operated through systematic planning by determining rural and ordinary service routes and traffic. The cabinet decided to sanction Rs 101.20 crore equity capital to start the passenger transport service and set up a state-level holding company. Currently, Special Purpo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se Vehicles (SPVs) have been formed under the Company Act for public transport in 20 cities, of which 16 are operational. "All the above companies will be merged into seven divisional companies. A holding company will be formed at the state level under the Companies Act 2013 for integrated control of these seven companies," the official said. The council of ministers also okayed discharging resp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onsibilities under the three-tier structure and investing 51 per cent shares of the state-level holding company in seven subsidiary companies.
According to the official, the regional subsidiary companies will be formed by amending the existing city bus transport companies in the respective divisional headquarters. PTI ADU NSK X X X X Extracts X X X X X X X X Extracts X X X X
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