The Pune Mahanagar Parivahan Mahandal Limited (PMPML) is in hot water as it grapples with a staggering operational loss of ₹734 crore in the fiscal year 2023-24, a significant leap from the ₹204 crore recorded in 2017-18. This alarming increase in losses over the past six years has sparked concerns and calls for urgent action to address the financial crisis.
The financial trajectory of PMPML has taken a sharp turn for the worse, with losses skyrocketing from ₹204 crore to ₹734 crore in just a few years. This financial burden is a cause for worry for the public transport entity, which operates under the Pune and Pimpri-Chinchwad municipal corporations.
To alleviate the mounting losses, PMPML has sought support from civic bodies. The Pune Municipal Corporation (PMC) is shouldering 60% of the financial burden, amounting to ₹440.42 crore, while the Pimpri Chinchwad Municipal Corporation (PCMC) is taking on the remaining 40%, totaling ₹293.58 crore.
In an effort to address the financial crisis, PMC has decided to provide a monthly disbursement of ₹34 crore to PMPML, a departure from the previous lump sum payments. This strategic intervention plan aims to stabilize the financial situation and prevent further losses.
Critics and stakeholders are questioning the root causes of PMPML’s financial troubles. Jugal Rathi, from PMP Pravasi Manch, criticizes the procurement of expensive air-conditioned buses despite low demand from commuters. Rathi emphasizes the need for PMPML to realign its operational strategy to meet the needs of citizens for affordable, reliable, and efficient public transportation.
As scrutiny mounts, calls for increased accountability are growing louder. Stakeholders are demanding a collective effort to address systemic inefficiencies and financial mismanagement within PMPML. The absence of elected members further highlights the responsibility placed on municipal commissioners to navigate these challenges and implement meaningful reforms.
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