'BEST' has decided to sell CNG to break the financial crisis

A loss-making venture 'BEST' has decided to sell CNG to break the financial crisis. For this, CNG stations will be set up in 27 depots under the 'BEST' initiative.

In the last 8 to 10 years, the financial maths of the 'BEST' initiative has deteriorated. To recover from the bad financial condition, the 'BEST' initiative has provided parking facilities for private vehicles in the depots under its jurisdiction. But in view of the financial crisis which is increasing day by day, now the 'BEST' enterprise has decided to sell CNG at its depot. CNG selling stations have been set up on pilot basis at Ghatkopar and Goregaon bus depots for private vehicle owners.

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Keeping in mind the good response received by the private vehicle owners here, 'BEST' has now decided to set up CNG stations at the remaining 25 depots. After setting up CNG stations, they will be available to private vehicle owners near their homes. Also, the BEST initiative has expressed the belief that the BEST initiative will get revenue from the sale of CNG and will get some help to drive the financial cart.

The 'BEST' initiative has once again demanded 3000 crores from the municipal administration, but the demand of 3000 crores has been rejected by the municipal administration due to non-accounting of the money given so far. Still, Municipal Commissioner Dr. Bhushan Gagrani has shown his readiness to provide some financial help to save 'BEST'.

'BEST' activities in debt crisis

In the past few years, the financial crisis of the 'BEST' initiative has increased. Due to the debt of retired employees, salary of working workers, establishment expenses, money for purchase of electricity, a mountain of debt has stood up on the BEST initiative. In order to recover from the debt, the BEST initiative had sought a subsidy from the Mumbai Municipal Corporation in the year 2016-17. The Mumbai Municipal Corporation extended a helping hand to 'BEST', which is a part of the municipality, to recover from the financial situation and provided funds for the 'BEST' activity in the municipal budget. Through this, the Municipal Corporation has provided assistance of 8,500 crores to 'BEST' by providing financial assistance in phases. Still, the 'BEST' initiative has not been able to get out of the financial crisis.