Sindh Road Transport Corporation (SRTC)

• SRTC was created in July 1970 under the provisions of Section (70) of Motor Vehicle Ordinance, 1965 to operate buses in Sindh.

• The operations of SRTC were bifurcated on 1st February 1977 when Karachi Transport Corporation was established to cater for the exclusive needs of Karachi.

• The organization of SRTC continued to operate buses in rest of Sindh.

• The operations of SRTC were closed on 6th December 1999 under Golden Hand Shake Scheme to its 1844 employees.

• The retirement dues, Golden Hand Shake etc to Ex-Employees have been paid from government loan of Rs.662.000 million.

• The loan has to be refunded through the sale of 25 SRTC properties scattered in almost every district of the province through Sindh Privatization Commission.

• The estimated value of SRTC properties is over Rs.1000.000 million.

• Final accounts of SRTC up to closure of SRTC operations  till 06-12-99 have been drawn.

• A Chartered Accountant has been appointed with approval of Auditor General Pakistan. The work of final audit is in progress.

• Seven employees of SRTC (Defunct) are retained in order to finalize different issues relating to the defunct corporation.

• The retirement dues, Golden Hand Shake etc to Ex-Employees have been paid but still they are agitating for payment of 15% mark up due to delayed payment as was promised to them in the agreement but was not paid to them due to decision of Sindh Cabinet.