The Pune Mahanagar Parivahan Mahandal Limited (PMPML) has encountered a staggering operational loss amounting to ₹734 crore during the fiscal year 2023-24, marking a disconcerting escalation from ₹204 crore recorded in 2017-18. This unsettling revelation, gleaned from the utility’s annual report, underscores a threefold surge in losses over the span of six years, prompting urgent calls for remedial measures to stem the financial hemorrhage.
Escalating Loss Trajectory
The trajectory of PMPML’s financial woes has witnessed a precipitous ascent, catapulting from ₹204 crore in 2017-18 to ₹734 crore in the latest fiscal year. This burgeoning deficit represents an alarming predicament for the public transport entity, which operates under the purview of the Pune and Pimpri-Chinchwad municipal corporations.
Burden Sharing Dynamics
In light of the burgeoning financial burden, PMPML has solicited the support of civic bodies to alleviate the staggering losses. Pune Municipal Corporation (PMC) shoulders 60% of the financial onus, amounting to ₹440.42 crore, while Pimpri Chinchwad Municipal Corporation (PCMC) bears the remaining 40%, totaling ₹293.58 crore.
Mitigating Measures
PMC, cognizant of the pressing need to address the financial exigencies confronting PMPML, has embarked on a strategic intervention plan. Under this initiative, PMC has resolved to disburse ₹34 crore on a monthly basis to PMPML, a departure from the erstwhile practice of lump sum payments.
Challenges and Critiques
Critics and stakeholders, however, cast a discerning eye on the root causes underlying PMPML’s escalating financial woes. Jugal Rathi, representing PMP Pravasi Manch, laments the ostensible misallocation of resources, pointing to the procurement of financially burdensome air-conditioned buses amidst tepid demand from commuters. Rathi underscores the imperative of recalibrating PMPML’s operational strategy to align with the aspirations of citizens for affordable, reliable, and efficacious public transportation.
Call for Accountability
Amidst mounting scrutiny, calls for heightened accountability resonate across the spectrum, with stakeholders urging a concerted effort to redress systemic inefficiencies and fiscal mismanagement plaguing PMPML. The absence of elected members further underscores the onus placed upon municipal commissioners to navigate these tumultuous waters and effectuate meaningful reforms.
